At the risk of enraging the uberbears, clearly there will be some marginal buyers drawn in, and I would be unsuprised if that did lead to a levelling off of prices.
BUT there is still a big problem with affordability.
If it's house price rises you want then there would need to a combination of low FTB interest rates AND sub-20% deposit requirements.
Heck, if I could get an 80% LTV with a 5 year fix under 4% I'd be tenmpted to buy myself, but while the lenders continue to offer usurious terms I'll sit on my hands, and that will be the case with most others, especially as most folks are also worried about job security.