House prices surge for all capital cities

The cost of homes is on the rise with value increasing in every capital by more than one per cent. Prices are now up 10-point-6 per cent for the year – the strongest annual growth rate in almost 11 years.

Source: AAP

With the Reserve Bank cash rate is staying at a historic low 0 point 1 per cent, banks have been able to offer record low lending rates to consumers.  But there are warnings, that's about to change.