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The rate rises in the year to come would be as expected, however it may be the banks that raise their rates independently of RBA's move. With the stratospheric strength of the AU$ and local retail outlets suffering supremely, it would probably be unwise for the RBA to raise rates further.

Still waiting for that massive drop in property prices that some folk are talking about, but if retail goes bust because of the high AU$, the rest of Australia will suffer. And if property prices crash in this manner, it's not because the property bubble had burst. It was simply the stupidly high interest rates from the banks and the RBA (or their rapid rate hikes in the absence of clear thinking) that caused the crash. Realistically, property is still dirt cheap based on what I've seen in the country in which I was born.

That said, comparing Australia's property to Singapore's property is like comparing apples and oranges.