Interest rates are going up by the end of this year, a survey of 25 of Australia's leading economists predicts, with the average bet seeing the cash-rate at 1.7 per cent by December.

Any move up is likely to put a strain on heavily indebted households that have taken on massive mortgages on the back of Australia's property boom, which appears to be coming to an end.

"While we are unlikely to experience a house price crash in Australia, we know that house prices need not fall much to bring households into financial trouble because of their high gearing," said Monash University economist Jakob Madsen.

"Well aware of this, the Reserve Bank would probably like to save for a rainy day and therefore rather put the cash rate up than down."