Following the Reserve Bank's long-awaited and highly anticipated cash rate drop, lenders have begun implementing interest rate cuts.

Despite this, the effects of this cut aren't likely to be felt for some time, as discussed by Jack Campbell and Alex Whitlock in the latest episode of Broker Daily Uncut.

The pair delve into the effects of an interest rate cut on the property market. With recent reports of one in three homes worth upwards of $1 million, it's going to take more than one or two cash rate drops to provide tangible relief for borrowers.