The housing market could be set to heat up in the wake of the Official Cash Rate being cut

OneRoof's House Price Report shows the average property value fell one point seven percent to 956-thousand dollars in the three months to the end of August.

Since the Official Cash Rate was cut, the number of buyer enquiries jumped 49 percent compared to the same period last year.

OneRoof editor Owen Vaughan says as banks continue to lower their rates, the more the market will respond.

He says experts are expecting the one year rate to get below six percent.