Not surprisingly, real estate agents are delighted.

The Real Estate Institute of Australia wants buyers to get their wallets out.

“With house prices moderating and real wages growing at their fastest rate in a decade, further improvements in affordability can be expected during 2025,” it says in a statement.

Along the same lines, the Housing Industry Association Chief Economist Tim Reardon says:

“Today’s decision will be welcomed by many, including many aspiring homeowners who, with renewed confidence, will re-enter the market and build their own home.”