ANZ tips strongest real estate price growth for Sydney and Perth

Australian housing prices are set to soar 17 per cent across all the capital cities this year, ANZ economists have forecast.

ANZ tips strongest real estate price growth for Sydney and Perth
ANZ tips strongest real estate price growth for Sydney and Perth

Australian housing prices are set to soar 17 per cent across all the capital cities this year, ANZ economists have forecast.

Sydney and Perth housing prices are forecast to jump 19 per cent in 2021, followed by Hobart which could see an 18 per cent rise.

Melbourne and Brisbane could see 16 per cent growth and Adelaide up 13 per cent, the ANZ research found. 

ANZ see the first half of 2021 as likely to be stronger than the second half given the end of government programs like JobKeeper and HomeBuilder, and an emerging lift in fixed mortgage rates.

“What we’ve seen is a combination of quite strong demand and relatively low supply,” ANZ senior economist Felicity Emmett told Domain.

Emmett expects the Australian Prudential Regulation Authority (APRA) will introduce macroprudential measures to slow house price growth into 2022.

Last November ANZ previously forecast a 9 per cent national rise this year when housing prices in Perth were tipped to jump 12 per cent, Brisbane 9.5 per cent and Hobart 9.4 per cent. Sydney prices were expected to rise 8.8 per cent with Melbourne prices lagging with 7.8 per cent growth.

ANZ says the annual price growth will slow to 6 per cent in 2022.

At this time last year it was tipped by ANZ that prices would fall 10.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

Tags: 
2021 Property Boom 2021 Property Forecast Expert Market Prediction

Comments

Be the first one to comment on this article
What would you like to say about this project?