According to Lawless, the current real estate market appears to be developing into a “two-speed” scenario, characterized by varied outcomes across different regions.

In terms of property prices, Canberra, Hobart, and Darwin have experienced noticeable growth, with increases of 1 percent, 1.2 percent, and 1.9 percent, respectively.

Lawless suggests that this trend might indicate the beginning of market adjustments, as people come to terms with the reality that interest rates are unlikely to decrease further in the foreseeable future, particularly over the next six months.

Meanwhile, rental prices are climbing in all capital cities, with the national rental index showing a 5 percent increase over the past year, marking the steepest annual rise in 12 months.