WESTPAC PREDICT 15% SURGE IN HOUSE PRICES
September 20, 2020
House prices are set to bottom out by June 2021 before bouncing up by 15% according to Westpac’s economic team who believe low mortgage rates and a less severe recession than predicted will stabilise the market before a solid recovery.
Chief economist Bill Evans and senior economist Matthew Hassan predict the 15% national price surge which will start around June 2021 and run until mid-2023 or by 7.5% per year, with the greatest gains in Brisbane and Perth being 20% and 18% respectively
To read the full Westpac article click below:
https://www.westpac.com.au/news/money-matters/2020/09/house-prices-in-for-15pc-surge/
Read Our Other Articles
APRA finally relaxes loan serviceability conditions
Potential home buyers will be able to breathe a little bit easier after APRA’s (The Australian Prudential Regulatory Authority)...
Clearing the way for Reside on Money
It has been an action packed week on Money Street, with an excavator on site demolishing the old house...
WA CONTINUES TO KEEP THE NATIONAL ECONOMY STRONG
WA has recently been viewed as a drag on the ‘national interest’ of Australia due to the state’s hard...
Perth is hot property
Fresh research from Peard Real Estate shows that Perth is ripe for investment as evidenced by the 100% increase...
Construction industry showing signs of recovery
Employment in construction has risen 1.5% in WA since the COVID-19 trough in April with data from the Australian...
Increased property market confidence following Federal election
Property investor activity has increased following the election of Liberal leader, Scott Morrison as Prime Minister. The culmination of...
PERTH | the perfect playground for Singaporeans
Perth’s tourism sector has increased by 3% from the previous year in which tourists collectively spent approximately $2.2 billion....
IS NOW THE RIGHT TIME TO BUY A NEW PROPERTY?
Have you been considering the purchase of a property, either as an owner-occupier or as an investor, but unsure...
Interest rates and political elections driving Adelaide’s property market
According to a recent Herron Todd White residential report the South Australian property market is being driven by two...
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...
