Australian property boom

PHOTO: Australian property boom

House prices continued rising across Australia’s five largest State capitals through the month of February.  

Already, in the first half of February, property prices have risen as much as they did in the whole month of January.

This week Australia’s biggest bank – the CBA – upgraded its housing market forecast, joining the long line of economists that have done a 180° about-face.

The bank said surging momentum in the property market and leading indicators pointed to strong price rises, forecasting dwelling prices will rise 8% in 2021 and 6% in 2022.

They believe house prices will rise 16% in that time and unit prices by 9%, continuing the disparity in these two segments of our property markets.

To get a better understanding of what’s really happening in our housing markets watch my chat with Dr. Andrew Wilson, chief economist of My Housing Market in our weekly Property Insiders Video.