Economists have predicted that the rapid pace of Australian house price growth is set to slow by the end of the year. So if you’re thinking of selling, now is the right time to consider putting your property on the market. As affordability pressures bite and more homes are offered for sale, the meteoric rise in property values we have seen this year will inevitably slow.
Excerpt of Article By Melissa Heagney – Domain 8.6.21
The housing market has soared at a faster pace than some bank economists expected, leaving them to upgrade their forecasts after CoreLogic figures revealed dwelling values soared by 10.6 per cent over the 12 months to May across the country.
Other researchers who made bullish forecasts earlier this year are holding their ground. ANZ said in March Sydney housing prices would rise 19 per cent in 2021, with national prices to rise 17 per cent. But with Sydney house prices up 15.1 per cent in just five months, the bank expects the rapid growth to ease soon.
House prices have spiralled as Australia recovers from the pandemic, fuelled by low interest rates, government grants and a desire for more spacious homes equipped for remote work. High demand coincided with scarce supply as owners were reluctant to sell into a recovering economy.
- Posted by The Goldman Brothers
- On June 11, 2021
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