{"id":32663,"date":"2021-06-03T10:29:00","date_gmt":"2021-06-02T22:29:00","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=32663"},"modified":"2021-06-03T10:29:00","modified_gmt":"2021-06-02T22:29:00","slug":"downhill-from-here-property-price-growth-to-drop-from-2022","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/downhill-from-here-property-price-growth-to-drop-from-2022\/","title":{"rendered":"Downhill from here: Property price growth to drop from 2022"},"content":{"rendered":"<p><strong>PHOTO: Westpac<\/strong><\/p>\n<p>With the worst of the pandemic seemingly behind us, bankers are now predicting 15 per cent price growth for <a href=\"https:\/\/propertynoise.co.nz\/au\/?s=Australia%E2%80%99s+housing+market&amp;submit=Search\">Australia\u2019s housing market<\/a> this year, before macro-prudential measures dramatically slow growth early next year.<\/p>\n<p>Citing high clearance rates, a surge in housing construction and consistent price growth, Westpac is no longer referring to market activity as a post-COVID rebound. Instead, in its latest housing pulse report, the bank has upped its price growth predictions for this year from 10 per cent to 15 per cent.<\/p>\n<p>\u201cAustralia\u2019s housing markets are fizzing. The broad\u2013based lift that was gathering three months ago is now a fully fledged boom,\u201d said Westpac senior economist Matthew Hassan.<\/p>\n<p>But it\u2019s next year\u2019s forecast that has caught pundits off guard, with Westpac revising down its earlier strong growth prediction to a slim 5 per cent in 2022, before the market completely stalls in 2023 with 0 per cent growth.<\/p>\n<p>According to the big four bank, affordability and macro-prudential measures will play a key role in slowing the market from here, with supply and demand factors also expected to come to play as a result of border closures.<\/p>\n<p>Westpac\u2019s growth predictions are as follows:<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"img-responsive\" src=\"https:\/\/www.smartpropertyinvestment.com.au\/images\/westpac.png\" width=\"570\" height=\"270\" \/><\/p>\n<p>READ MORE VIA <a href=\"https:\/\/www.realestatebusiness.com.au\/industry\/21588-downhill-from-here-property-price-growth-to-drop-from-2022\">REB<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PHOTO: Westpac With the worst of the pandemic seemingly behind<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/downhill-from-here-property-price-growth-to-drop-from-2022\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":28819,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478098730,478098512,478098521,478100064,478108952,478098566,478098562,478098542,478098519,478098535,478098522,478098543,478098513,478101743,478098873,478098579,478098510,478115485,478098514,478098511,478098705,478098533,478098509,478100668],"class_list":["entry","author-data123nz","post-32663","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-auctions","tag-australia","tag-australians","tag-australias-housing-market","tag-covid-19","tag-first-home-buyers","tag-foreign-buyers","tag-home-loans","tag-home-ownership","tag-house-prices","tag-interest-rates","tag-mortgages","tag-property","tag-property-correction","tag-property-investment","tag-property-market","tag-property-news","tag-property-price-growth","tag-propertynoise","tag-real-estate","tag-real-estate-agency","tag-real-estate-agent","tag-real-estate-news","tag-westpac"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - 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