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A rollercoaster ride for house prices is expected following a lift to the Official Cash Rate.
The Reserve Bank has raised the rate to .75 percent.
JMI Wealth director Andrew Kelleher told Mike Hosking the central bank expects inflation to reach nearly six percent, then decline mid-next year.
He said the bank's forecasting Gross Domestic Product to bounce back, and wage growth to be higher.
“House price inflation forecast looks like a scary rollercoaster. Falls very sharply from here and then goes negative.”