Property Price forecasts for 2022
What’s ahead in our housing markets in the next year or two?
What’s the outlook for the Australian property markets for 2021 and beyond?
This is a common question people are asking now that our real estate markets are up and running again.
A report recently released by ANZ Bank predicts house prices at the national level will rise to a strong 17% through 2021, before slowing to 6% in 2022.
They see
- Sydney house prices increasing by up to 19% by the end of the year
- Melbourne house prices rising by over 16% over the year
- Brisbane house prices rising by 16% this year
- Adelaide house prices rising by over 13% over the year
- Perth house prices rising a whopping 19% in 2021
- Canberra house prices rising by over 16% in 2021, and
- Darwin house prices rising by over 16% this year.
The Commonwealth Bank also upgraded its property price growth forecast for calendar year 2021 from 8 percent to 10 percent.
CEO Matt Comyn said “We expect house prices will continue to grow during the course of this calendar year and next but not at the rate that we’ve seen in February and March, which is quite a rapid,” the CEO said.
“We were thinking 8 percent, and we are now thinking 10 percent. We are not overly concerned with what we are seeing at the moment in the context of broader financial stability".
Westpac is even more optimistic
Westpac’s Peter King revealed a more optimistic forecast.
“We have a forecast of 10 percent housing prices increase for this year and next year,” Mr King said.
Cumberland Realty has many genuine buyers for your home. Please call us for a free market appraisal on 9756 3040