Great article here on the history of the Australian reserve bank and their target rates over the years
Check out here for some historical data as well.
The real problem with Australian punters is that the moment interest rates are lowered.....property prices rise because people think....you beauty I can afford to spend more.
The problem with this is rates can go back up in 12 months......most mortgages last 25 years.
It would be nice if in the next 0.25% interest rate drop in 2015 owners AND investors went you beauty......I can afford to go to the footy and spent the extra $1250 on themselves and their family.......