House prices in Sydney could climb by 20 per cent over the next two years and by 18 per cent in Melbourne as economists predict the battle between banks for new customers and the successful rollout of the coronavirus vaccine will super-charge the national property market.
Brisbane , Perth , Adelaide and Hobart are also tipped to see above-inflation increases for the next two years. The Westpac forecasts are stronger than those recently released by the Commonwealth Bank, which is expecting double-digit price growth in both Sydney and Melbourne over the next two years.
The battle for market share is continuing with the NAB on Monday slicing up to 0.55 per cent from some of its fixed home loan rates for owner-occupiers. Investment loans were cut by up to 0.15 per cent.The lowest rate in the market is 1.69 per cent for one year offered by the Greater Bank.
Source: News Formal (newsformal.com)
Meanwhile, people will be wary and cautious if the IR Omnibus Bill pass the parliament. Average Aussie will find it harder to enter the property market. Those well off will reap the rewards.
Fuck these articles get. More ridiculous by the day
Australia totally obsessed with house prices. Bizarre
Yeah nah thanks, For a million dollars I would rather buy a house in Thailand, and one in Bali, also one in Sri-Lanka, one in Italy, another in Spain, one more in France, and a few other places, with a couple of hundred K left over to jetset around between my homes.
This is fantastic for Melbourne, if you can't afford to buy a house now never fear because you never will since apparently our housing bubble in this country is both cool and normal
Unless the average wage is being raised by 40% in the same timeframe, good luck with that...
First home buyers and family homes upgraders pays mortgage after tax, rich investors pays mortgage payments before tax, this stupid housing policy will definitely drive House price high. Federal treasurer must change the housing policy
Raise the interest rates and the prices will drop.
This is great for Boomers and older people with their own home. This is beyond a disaster for the young and first home buyers. Wages have not risen in years. This housing bubble needs to correct or home ownership will only be possible for the wealthy.
Hah. So suddenly migration will shoot up above even previous levels despite the borders remaining closed, mutations in the virus, our biggest employer stunted (higher Ed) and wages in steep decline? 🦄
Load of crap!
Congratulations Melbourne - Your average housing price is now predicted to be 2 Million by 2030, 3 Million by 2040. The collective personal self interest of society is disgusting - You're going to have a city (and metro centres) so unlivable and expensive - & unsustainably priced
Economists 😂
Oh look, more speculation about future house prices being dressed up as 'news' by . Every. Bloody. Day. ThisisNotJournalism
Pumping the market for Domain profits.
Why? Who’s buying?
1. What is 'Breaking' about already well known trends that property prices continue rising. 2. The constant property market speculation (Rise or fall) is ridiculous. Its verging on being called 'property price porn' - articles made for clicks with no substance.
Hang on, I thought everyone was moving to the bush?
This country has a sickness.
oh thank god i was worried paying $800k for a house just wasn't enough
What's the connection between the vaccine and the predicted rise in property prices? The article doesn't mention one.