Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter
subscribe to our newsletter

Little action forecast for housing market in 2015

Australia’s housing market is set for “a year of flat activity” in 2015, according to Domain Group senior economist Andrew Wilson.

Dr Wilson said that while 2013 was a year of expansion with strong price growth, and 2014 was a year of moderation, activity in the housing market is expected to be subdued next year with most markets struggling to hold the inflationary line.

“Although the case is growing for an official rate cut in 2015, without improved economic conditions and a return of incomes growth and confidence, this is unlikely to have a significant impact on housing markets,” he said.

Advertisement
Advertisement

Dr Wilson said that as a consequence, house price growth for most capital cities will hover around the inflation rate in 2015, but the rate of growth in each city will depend on local supply and demand factors.

Sydney is set to remain the best performing market, with growth likely to be at least twice the inflation rate, he said.

“A top performing local economy and the continued undersupply of housing will generate consistent buyer activity over the year,” he said.

“Inner and middle-ring mid-price-range suburban regions are set to continue to record double figures price growth.”

 

Little action forecast for housing market in 2015
mortgagebusiness

Latest News

The banking industry has agreed on a common approach to COVID-19 loan repayment deferrals, stating that these will not impact a borrower...

The ratings agency is forecasting a material rise in defaults off the back of the economic shock from the coronavirus outbreak. ...

With lower interest rates off the table, the Reserve Bank has been urged to ramp up its quantitative easing strategy. ...

FROM THE WEB
podcast

LATEST PODCAST: Managing the influx of COVID-19-related loans

Do you expect COVID-19 to reduce or increase your business flows?

Why we’ll keep delivering for our communities in the face of COVID-19

alex

As Australia tries to keep pace with a rapidly changing business and social landscape in the wake of COVID-19, Momentum Media is leading the way delivering essential content to our communities, writes Alex Whitlock, director of Mortgage Business.

Read more

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.