Although the surge in new crown cases in December caused consumer confidence to frustrate, expectations for housing prices rose again. The Westpac Melbourne Institute’s index of house price expectations rose 1.1% in January—and usually, this is a month of quieter real estate activity. Before price expectations rose, the index surged 9.4% last month to 143.7 points, twice the low during the lockdown of the new crown epidemic in April last year. Westpac chief economist Bill Evans said that the Reserve Bank of Australia has been paying attention to the trend of house prices and the prospects for house price growth are quite strong. Evans and senior economist Matthew Hassan predict that from this year to 2023, national house prices will “surge” by 15%. ,
That is, an annual increase of about 7.5%. Data released by CoreLogic earlier this month showed that in December last year, housing prices in Australia’s eight major cities rose by 1%. House prices in Sydney rose 2.7% last year. Earlier this week, the Commonwealth Bank released a series of reports on household spending intentions for December 2020, showing that the index is still 4.8% higher than a year ago. In December last year, as new home buyers scrambled to take advantage of the A$25,000 HomeBuilder subsidy, housing sales in Australia nearly doubled month-on-month.
https://www.afr.com/policy/economy/westpac-tips-15pc-rise-in-property-prices-20210120-p56via