{"id":36316,"date":"2021-12-31T10:11:57","date_gmt":"2021-12-30T21:11:57","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=36316"},"modified":"2021-12-31T10:11:57","modified_gmt":"2021-12-30T21:11:57","slug":"will-the-housing-boom-be-over-in-2022-we-ask-the-experts","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/will-the-housing-boom-be-over-in-2022-we-ask-the-experts\/","title":{"rendered":"Will the housing boom be over in 2022? We ask the experts"},"content":{"rendered":"<p><strong>PHOTO: RateCity director of research Sally Tindall. FILE<\/strong><\/p>\n<p class=\"_1HzXw\">Across Australia, first home buyers\u00a0like Yolanda Zarins and Luke Andree are wondering if house prices will ever drop.<\/p>\n<p class=\"_1HzXw\">Since having their first child Jannis 16 months ago, their inner-city rental has felt too small.<\/p>\n<p class=\"_1HzXw\">&#8220;It&#8217;s been pretty stressful, really. We started looking for a place to move into with a bit more space and we found we couldn&#8217;t really read the market,&#8221; Mr Andree says.<\/p>\n<p class=\"_1HzXw\">Nationally, property values have grown 22 per cent in a year, although the pace of growth has slowed in recent months.<\/p>\n<p class=\"_1HzXw\">Ms Zarins and Mr Andree\u00a0live in Hobart \u2013 2021&#8217;s hottest capital city property market. Prices there have gone up a staggering 27.7 per cent in the past 12 months.<\/p>\n<aside class=\"_2X-83 g1U-R _1VIKT\" data-component=\"Pullquote\">\n<blockquote class=\"_2Bzft\">\n<p class=\"_1HzXw\"><strong>&#8220;We\u00a0started the journey looking at things that are about half the price of what they are now,&#8221; Ms Zarins says.\u00a0\u00a0<\/strong><\/p>\n<\/blockquote>\n<\/aside>\n<p class=\"_1HzXw\">In Sydney, values have risen\u00a025.8 per cent, followed by Brisbane (+25.1 per cent), Canberra (+24.5 per cent), Adelaide (+21.4 per cent), Darwin (+16.7 per cent), Melbourne (+16.3 per cent) and Perth (+14.5 per cent).<\/p>\n<div class=\"entry-featured-img-wrap\"><a class=\"entry-featured-img-link\" href=\"https:\/\/propertynoise.co.nz\/au\/20-best-nude-beaches-in-australia\/\"><img fetchpriority=\"high\" decoding=\"async\" class=\"attachment-hoot-medium-thumb entry-content-featured-img entry-grid-featured-img wp-post-image jetpack-lazy-image jetpack-lazy-image--handled\" src=\"https:\/\/i1.wp.com\/www.propertynoise.com.au\/wp-content\/uploads\/2021\/12\/Nude.jpg?resize=460%2C270&amp;ssl=1\" sizes=\"(max-width: 460px) 100vw, 460px\" srcset=\"https:\/\/i1.wp.com\/www.propertynoise.com.au\/wp-content\/uploads\/2021\/12\/Nude.jpg?resize=460%2C270&amp;ssl=1 460w, https:\/\/i1.wp.com\/www.propertynoise.com.au\/wp-content\/uploads\/2021\/12\/Nude.jpg?zoom=2&amp;resize=460%2C270&amp;ssl=1 920w\" alt=\"nudist\" width=\"460\" height=\"270\" data-lazy-loaded=\"1\" \/><\/a><\/div>\n<div class=\"entry-grid-content\">\n<header class=\"entry-header\">\n<h2 class=\"entry-title\"><a href=\"https:\/\/propertynoise.co.nz\/au\/20-best-nude-beaches-in-australia\/\" rel=\"bookmark\">20 Best Nude Beaches in Australia<\/a><\/h2>\n<\/header>\n<\/div>\n<p class=\"_1HzXw\">&#8220;What we&#8217;ve seen is the highest 12-month growth rates since 1989,&#8221;\u00a0says CoreLogic&#8217;s Eliza Owen.<\/p>\n<p class=\"_1HzXw\">&#8220;But in terms of the full upswing, it&#8217;s been going on for about 13 months.&#8221;<\/p>\n<p class=\"_1HzXw\">In 1989, Ms Zarins turned one. More than three decades later, record annual price growth has\u00a0priced\u00a0her young family out of the property market.<\/p>\n<p class=\"_1HzXw\">&#8220;I\u00a0think the emotional toll\u00a0is really what made us decide to stop looking for now,&#8221; she says.<\/p>\n<figure class=\"_2XhY1 _2X-83 g1U-R _3V6uS\" role=\"group\" data-print=\"inline-media\" aria-labelledby=\"100702902\" data-component=\"Figure\" data-uri=\"coremedia:\/\/imageproxy\/100702902\">\n<div class=\"_3C2ok\" data-component=\"IntersectionObserver\">\n<div class=\"_3C5J1\" data-component=\"AspectRatioContainer\"><img decoding=\"async\" class=\"_1sqAO WIJbJ\" src=\"https:\/\/live-production.wcms.abc-cdn.net.au\/e884280950c8c8dce57e97dddcff2e2b?impolicy=wcms_crop_resize&amp;cropH=3312&amp;cropW=4968&amp;xPos=8&amp;yPos=0&amp;width=862&amp;height=575\" sizes=\"100vw\" alt=\"A mother and father play with their baby boy. The photo has been taken from outside through their kitchen window.\" data-component=\"Image\" \/><\/div>\n<\/div><figcaption id=\"100702902\" class=\"_1WKJ_ _3rsys _1srG4 _3PhF6 _10YQT _2Cu8q\" data-component=\"Figure__figcaption\"><em><em><strong>Yolanda Zarins and Luke Andree would love to get out of the rental market but they&#8217;ve been priced out of Hobart&#8217;s hot property market.\u00a0<cite class=\"_3gxdk _3rsys _1srG4 _3PhF6 _10YQT _2Cu8q\" data-component=\"Figure__cite\">(<span class=\"_16znc _3rsys _1cBaI _3PhF6 _10YQT _2Cu8q\" data-component=\"Byline\"><span class=\"_3rsys _1srG4 _3PhF6 _10YQT _2Cu8q\" data-component=\"Text\">ABC News: Luke Bowden<\/span><\/span>)<\/cite><\/strong><\/em><\/em>&nbsp;<\/p>\n<\/figcaption><\/figure>\n<h2 class=\"_3HiYf _2K_6X _1cBaI _2b-O4 _2yZBa _3I3Xh _2uBSR _10YQT _1lh6E\" data-component=\"Heading\">What will property prices look like next year?<\/h2>\n<p class=\"_1HzXw\">It&#8217;s not great news for first home buyers.<\/p>\n<p class=\"_1HzXw\">Prices are expected to rise again in 2022 before falling\u00a0in 2023 (although not enough to wipe out the gains of the current boom).<\/p>\n<aside class=\"_2X-83 g1U-R v-gc3 _299hJ\" data-component=\"RelatedCard\" data-uri=\"coremedia:\/\/article\/100708878\">\n<div class=\"RCbfz dA4xg _2q0YW\">\n<h3 class=\"_157vS wYJvU _1o1Da _1cBaI _18377 _2yZBa _3I3Xh _2uBSR _10YQT _1lh6E\" data-component=\"Heading\">House prices depend on interest rates<\/h3>\n<div class=\"_2w1Dd\">\n<div class=\"_3C2ok\" data-component=\"IntersectionObserver\">\n<div class=\"_3C5J1\" data-component=\"AspectRatioContainer\"><img decoding=\"async\" class=\"_1sqAO WIJbJ _10f2V\" src=\"https:\/\/live-production.wcms.abc-cdn.net.au\/335829cf61e8047c8c3516d99c46938c?impolicy=wcms_crop_resize&amp;cropH=710&amp;cropW=1260&amp;xPos=0&amp;yPos=64&amp;width=862&amp;height=485\" alt=\"for sale sign housing photo by Daniel Fermer.jpg\" data-component=\"Image\" \/><\/div>\n<\/div>\n<p class=\"_3PR0j _3rsys _1cBaI _3VnJp _10YQT\" data-component=\"Typography\"><em><strong>House price falls are all but baked in as interest rates start rising over the next couple of years, writes Michael Janda.<\/strong><\/em><\/p>\n<\/div>\n<\/div>\n<\/aside>\n<p class=\"_1HzXw\">NAB has forecast\u00a0a 4.9 per cent lift in property values in 2022 and a 4 per cent fall in 2023.<\/p>\n<p class=\"_1HzXw\">ANZ&#8217;s outlook is a 6 per cent price hike next year and 4 per cent drop in 2023.<\/p>\n<p class=\"_1HzXw\">The Commonwealth Bank expects house prices to rise\u00a07 per cent next year, and is forecasting the biggest price drop in\u00a02023 out of the major banks,\u00a0of 10 per cent.<\/p>\n<p class=\"_1HzXw\">Westpac expects an 8 per cent rise in 2022 and 5 per cent correction in 2023.<\/p>\n<p>&nbsp;<\/p>\n<h2 class=\"_3HiYf _2K_6X _1cBaI _2b-O4 _2yZBa _3I3Xh _2uBSR _10YQT _1lh6E\" data-component=\"Heading\">Banks hiking rates<\/h2>\n<p class=\"_1HzXw\">Record low mortgage rates below 2 per cent have fuelled the property frenzy.<\/p>\n<p class=\"_1HzXw\">House prices probably won&#8217;t go down until interest rates go up (which are linked to money markets and\u00a0the cash rate).<\/p>\n<p class=\"_1HzXw\">The Reserve Bank of Australia (RBA) says\u00a0it won&#8217;t lift the cash rate until inflation reaches 2 to 3 per cent target range.<\/p>\n<p class=\"_1HzXw\">But some analysts are betting the cash rate will rise in 2023 rather than 2024.<\/p>\n<p>&nbsp;<\/p>\n<aside class=\"_2X-83 g1U-R v-gc3 _299hJ\" data-component=\"RelatedCard\" data-uri=\"coremedia:\/\/article\/100705474\">\n<div class=\"RCbfz dA4xg _2q0YW\">\n<h3 class=\"_157vS wYJvU _1o1Da _1cBaI _18377 _2yZBa _3I3Xh _2uBSR _10YQT _1lh6E\" data-component=\"Heading\">Reserve Bank &#8216;prepared to be patient&#8217;<\/h3>\n<div class=\"_2w1Dd\">\n<div class=\"_3C2ok\" data-component=\"IntersectionObserver\">\n<div class=\"_3C5J1\" data-component=\"AspectRatioContainer\"><img decoding=\"async\" class=\"_1sqAO WIJbJ _10f2V\" src=\"https:\/\/live-production.wcms.abc-cdn.net.au\/48ae4493363b3210bdeb89831acb6c64?impolicy=wcms_crop_resize&amp;cropH=1120&amp;cropW=1989&amp;xPos=5&amp;yPos=222&amp;width=862&amp;height=485\" alt=\"Reserve Bank of Australia\" data-component=\"Image\" \/><\/div>\n<\/div>\n<p class=\"_3PR0j _3rsys _1cBaI _3VnJp _10YQT\" data-component=\"Typography\"><em><strong>The Reserve Bank keeps interest rates at a record low and maintains its current stimulus, saying it will be patient before raising rates.\u00a0<\/strong><\/em><\/p>\n<\/div>\n<\/div>\n<\/aside>\n<p class=\"_1HzXw\">Banks have already started hiking fixed rate\u00a0while cutting variable rates to attract new customers.<\/p>\n<p class=\"_1HzXw\">That&#8217;s why RateCity&#8217;s Sally Tindall says borrowers need to be prepared for rate rises in 2022.<\/p>\n<p>READ MORE VIA <a 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href=\"https:\/\/propertynoise.co.nz\/au\/international-the-88m-love-nest-that-jeff-bezos-and-mistress-lauren-sanchez-planned-to-live-in-before-their-affair-was-made-public\/\" data-bump-view=\"tp\">INTERNATIONAL: The $88M love nest that Jeff Bezos and mistress Lauren Sanchez planned to live in before their affair was made public<\/a><\/div>\n<\/li>\n<\/ul>\n<\/section>\n<section id=\"adswidget3-quick-adsense-reloaded-11\" class=\"widget quads-ad3_widget\">\n<div id=\"quads-ad3_widget\"><\/div>\n<\/section>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PHOTO: RateCity director of research Sally Tindall. FILE Across Australia,<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/will-the-housing-boom-be-over-in-2022-we-ask-the-experts\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":36317,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478098730,478098512,478116000,478111199,478098521,478098726,478100764,478098892,478108952,478098566,478098562,478098542,478098519,478098535,478098779,478098522,478098543,478098873,478098579,478098510,478098514,478098609,478098511,478098705,478098533,478098828,478098509,478106825,478099375,478104568,478119276],"class_list":["entry","author-data123nz","post-36316","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-auctions","tag-australia","tag-australian-housing-boom","tag-australian-mortgage-rates","tag-australians","tag-chinese-buyers","tag-commonwealth-bank","tag-corelogic","tag-covid-19","tag-first-home-buyers","tag-foreign-buyers","tag-home-loans","tag-home-ownership","tag-house-prices","tag-housing-boom","tag-interest-rates","tag-mortgages","tag-property-investment","tag-property-market","tag-property-news","tag-propertynoise","tag-rba","tag-real-estate","tag-real-estate-agency","tag-real-estate-agent","tag-real-estate-agents","tag-real-estate-news","tag-sally-tindall","tag-the-reserve-bank","tag-the-reserve-bank-of-australia","tag-yolanda-zarins"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Will the housing boom be over in 2022? 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