PROPERTY PRICES SET TO RISE IN 2021

The Australian residential real estate market should begin to rise in the second half of next year following a slight decline over coming months after showing recent stabilisation, according to CoreLogic.

Tim Lawless, CoreLogic’s head of research said Perth, Brisbane and Adelaide were “nudging back” as government support for buyers and record low interest rates increased confidence and demand.

“The housing sector is stabilising, markets will move into a trough over the next few of months and stabilise in the first quarter of next year. Potential stress in the first half of next year will be mild and concentrated in the apartment market.” Said Mr Lawless

This is a brief summary of the article ‘House prices start rising next year: CoreLogic’ by Duncan Hughes | The Australian Financial Review |10th – 11th October 2020