Will the rate cut reignite house prices?

A straw poll of the stock market reaction is a likely “no” as CBA and REA Group are a bit but not tearing away and the concrete boots on McGrath seem only to be getting more heavy:

My own view is that any revitalisation in the market will be brief because:

• Sydney’s goose is cooked by the investor bubble popping, the failing Chinese bid and the peculiar dynamics of its move-up ladder stalling as the pain spreads through the mortgage belt, and
• Melbourne will continue to slow as Sydney does, as well as the fading Chinese bid and supply glut.