The Bureau of Statistics released figures for their capital city house price index that show Sydney house prices jumped 5% in the last quarter, 12% in the last year. However JPMorgan's Ben Jarman believes this just reflects a rush to exploit the cheap cost of borrowing before rates started going up, and the first home owner grant before it was phased out.
Housing research firm Bismak says the Bureau's measurement inflates the price rises.
It seems certain that the Reserve Bank will raise rates again today.
So, who wants to guess where house prices are really going?
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