PHOTO: NAB has left Brisbane’s two year house price forecast alone but revised Sydney downwards. Source: News Corp Australia
One of the Big Four Banks has revised its house price expectations, with Brisbane’s two year forecast holding steady as Sydney cops the brunt of declines.
The National Australia Bank Residential Property Survey Q1 2019 now expects Brisbane to see a -1.8 per cent fall in house prices this year but the two year outlook was unchanged at 0.
NAB group chief economist Alan Oster said Australian housing market sentiment improved a little in the first quarter backed by an easing in the rate of decline of house prices.
While it remained very weak, “longer-term confidence also picked up suggesting housing market conditions may start improving moving into 2021”.
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