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Subscriber OnlyMarketsEconomicsAustralia’s Housing Market Is Suddenly Heating Up AgainSydney, Melbourne home prices have risen for past two monthsRate cuts have reignited fear of missing out as buyers returnAustralia’s Housing Market Is Heating Up AgainBySybilla Gross+FollowAugust 7, 2019, 7:00 PM UTCUpdated onAugust 8, 2019, 2:01 AM UTCTerms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. After a two-year slide, Australian house prices look to have bottomed out, sending buyers flocking back to the market.