Perth Leads Australian Home Price Gains While Rate Hikes Delayed

• House price growth could delay RBA rate cuts to 2023 due to sticky inflation and supportive budget • Perth home values rose 1.9% monthly in March, leading gains across other major cities • Perth growth sustainable in near term amid strong economy, rents, population intake • Softer Sydney, Melbourne markets expected if rate cuts delayed, but unlikely to decline sharply • Demand shifting to more affordable housing markets as higher rates reduce borrowing power