<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Homeowners in </span><a href="https://www.9news.com.au/perth" rel="" target="" title="Perth"><span>Perth</span></a><span> and </span><a href="https://www.9news.com.au/brisbane" rel="" target="" title="Brisbane"><span>Brisbane</span></a><span> are set for a major boost, with the value of their property tipped to increase in value by an average of $50,000 in defiance of the latest </span><a href="https://www.9news.com.au/interest-rates" rel="" target="" title="interest rate hikes"><span>interest rate hikes</span></a><span>.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>New analysis from Canstar, based on Cotality house prices and forecasts from ANZ, show </span><a href="https://www.9news.com.au/property" rel="" target="_blank" title="property prices"><span>property prices</span></a><span> will rise most rapidly in Perth with a jump of 12.3 per cent.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Such an increase would result in the median house price in the capital rising by $51,569 to hit $1.1 million.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/recession-prediction-for-australia-if-war-in-middle-east-continues-for-much-longer/d3988487-a252-4ae0-9a3d-f694f80eda54" rel="" target="" title="'Becoming more plausible': Recession warning if Iran war rages on"><strong><span>'Becoming more plausible': Recession warning if Iran war rages on</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The bank's forecast suggests property prices in Brisbane will rise 9.7 per cent, equating to a $54,919 jump in the median house price to $1.26 million.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>By contrast, property prices are sliding in Australia's two largest cities under mounting pressure from consecutive interest rate hikes and cost of living pressures stretching borrowers' capacity.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Melbourne house prices are predicted to fall by 1.7 per cent, while Sydney's are expected to slide by 0.9 per cent.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/australian-property-prices-brisbane-perth-home-values-tipped-to-climb-50k-defying-interest-rate-hikes/12b68b06-8726-43cf-b385-d892df493e1a" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"It's a tale of two property markets across Australia in a tug-of-war between how much the bank will lend, versus how desperately people need houses," Canstar.com.au data insights director Sally Tindall said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"The rate hikes have pushed Sydney house prices to their limit, at least for now, which, at a median price of $1.6 million is far from surprising."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Consumer confidence has taken a nosedive since the latest eruption of war in the Middle East almost two months ago, with Westpac predicting a further three rate hikes this year.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>This would result in the borrowing capacity of a single person earning an average full-time wage falling by $58,700 this year.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><em><strong><span>NEVER MISS A 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