Brodie Haupt, co-founder and chief executive of digital lending and payments provider WLTH, believes the first rate increase will see the cash rate only go up to 0.25 per cent and then to a maximum by mid-2023 of 1.25 per cent. 

“We’re seeing wages rising in construction and the tech sector because of shortages of skills, and then those will spread slowly to the rest of the economy,” he said.

“I think the decline in the auction clearance rate in the last six weeks shows that people are being a bit careful and cautious in the lead-up to the election, but demand for property is still there, especially as more international migrants arrive.”

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