home owners rush the exits

or as the Couriermail spins it..

House sales defy interest rate rise

A RISE in interest rates has not slowed the Queensland housing market with the number of properties for sale across the state continuing to rise.

There are now 58,387 properties being offered for sale, worth more than $37.6 billion, an increase of 1802 properties on the previous month but still down on last year's figures.

http://www.news.com.au/couriermail/story/0,23739,26187460-3102,00.html

For sale doesn't mean sold...when houses are sold we can say the market is 'defying' the rate rise.