Interest Rate Movements During Periods Where Prices Doubled

Australian house prices double (on average) every seven years. 
 
And while interest rates matter, they are by no means the determining factor when it comes to house price growth rates. 
 
House prices doubled during a period of high interest rates in the 1980’s; during the flat interest rate periods such as the 2000’s; as well as during the low interest rate environment of the 2010’s.
 
The graph below shows that the two periods where house prices doubled the quickest (1971-1976 and 1984-1988) both occurred during periods of rising interest rates.
 
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