Aussies are back on the hunt for buying a house before the imminent interest rate rise.
The CommBank Household Spending Intentions index showed home buying spending intentions rose 29.6% in February from January.
The near 30% increase is still 4.4% less than last February as Aussies rushed to buy new homes due to an influx of cash and no travel to spend it on.
While more Aussies looked to buy in February, an increasing number of Aussies also spent more on household services during the month to undertake home improvements and renos.
Despite the February increase, analysts expect property prices will plummet 8% in 2023 amid expected interest rate hikes, so we may see more Aussies opt for new buys over renos in the coming months.