Nervous home owners appear to be heading for some interest rate relief with economists tipping the Reserve Bank will keep them on hold when it
The Commonwealth Bank says it thinks house prices will fall by 10 per cent in Australia but still wants action to be taken to increase housing supply to address affordability.
The National Australia Bank has forecast Melbourne’s property prices to rise by 20 per cent by the end of 2022.
The RBA says it wants to see wages rise before lifting the official cash rate but house prices could rise 10 times as fast as them in 2021 according to some forecasts.
The two biggest banks in Australia have forecast house prices to rise by ten per cent or more this year.
Australia is approaching another housing boom just one year on from the pandemic onset as prices are tipped to rise by 16 per cent over the next two years.
