''RP Data research director Tim Lawless said improvements in the market since mid-year were linked to the Reserve Bank of Australia (RBA)'s cash rate cuts in May and June.''
"It's no coincidence that housing market conditions bottomed out at the end of May, after the Reserve Bank cut the official cash rate by 50 basis points," he said.
"A further cut of 25 basis points in June and the anticipation of further rate cuts in the pipeline appear to have instilled renewed confidence in the housing market which has driven the growth in home values."
