Recent interest rate cuts, easing of home loan lending restrictions and slashed income taxes are helping Australia’s real estate market rebound after one of the worst downturns in history. Experts say property prices are rising more rapidly than expected and predict national house values to grow upwards of 4.5% in 2020.

The nation’s median house price dropped 8.4% between July 2017 and May 2019. With only a handful of larger price dips during the late 1800s, the slump surpassed the recession of the 1990s and 2008 financial crisis, making it the worst ever recorded in recent decades.

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