Property prices poised for challenging times: ANZ

Recent rises in long-term fixed mortgage rates may start to dampen optimism in the property sector after record low rates, rising net migration and an under-supply of houses underpinned the sector over the past few months.

"A belief that the worst of the economic crisis is now behind us, combined with relatively attractive borrowing rates, has spurred the housing market into action," the bank's economist said in their report.

Of the eight indicators, one was positive, two were neutral with a positive bias, one was neutral, one was neutral with a negative bias, and three were negative.

Serviceability, liquidity and globalisation were all negative, and would require more time before they turned around.