Sydney median house price expected to rise 6% by 2022: BIS Oxford Economics

Sydney median house price expected to rise 6% by 2022: BIS Oxford Economics
Staff reporterDecember 7, 2020

After an estimated 18% decline in the median house price in Sydney in the two years to June 2019, house price growth is expected to stabilise through 2019/20 as affordability improves and credit conditions ease, a new report said.

A strong supply pipeline will see dwelling completions remaining relatively high in 2019/20 after peaking at record levels in 2018/19, which in turn will dampen price growth, according to the BIS Oxford Economics Residential Property Prospects 2019 to 2022 report.

A total rise of 6% is forecast for Sydney’s median house price in the three years to June 2022.

With investor demand being more negatively impacted by tightened credit, and supply concentrated in the unit sector, the median unit price is forecast to rise by only 1% in this time.

However, with supply falling away sharply from 2020/21, the market is expected to tighten quickly and see price growth accelerate beyond the forecast period.

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Sydney median house price expected to rise 6% by 2022: BIS Oxford Economics

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Sydney median house price expected to rise 6% by 2022: BIS Oxford Economics

Click here to enlarge:

Sydney median house price expected to rise 6% by 2022: BIS Oxford Economics

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