PHOTO: ANZ Bank
The ANZ Bank has revised its forecast and now sees the bottoming of the housing market “in the coming months” following the policy turnaround.
Economists Felicity Emmett and Adelaide Timbrell have forecasted prices will rise modestly through to the end of 2019.
They expect a three percent growth in 2020.
“After a period of significant weakness, house prices appear to be stabilising,” their latest Australian Housing Update read.
“Sydney prices have fallen 15%, while Melbourne’s are down 11%,” they advised.
“Brisbane prices have fallen only modestly, while Adelaide prices have been broadly stable.
READ MORE VIA PROPERTY OBSERVER