According to the following article published by Michael Bleby at AFR, Australia's housing market is on the brink of another boom - https://www.afr.com/property/residential/housing-market-on-the-cusp-of-another-boom-20241028-p5kltl.
The thinking is that the foreseeable rate cuts next year will encourage buyer confidence, although momentum in the East Coast markets have slowed down this year