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House prices to bounce back in 2021 after modest falls during coronavirus pandemic, CBA predicts – ABC News
Australia’s biggest home lender says house price falls so far during the pandemic have been surprisingly small, and its internal modelling is predicting a quick rebound everywhere except Melbourne.
Australia’s biggest home lender says house price falls so far during the pandemic have been surprisingly small, and its internal modelling is predicting a quick rebound everywhere except Melbourne.
Key points:
- CBA is now forecasting a 6 per cent fall in capital city property prices due to COVID-19, down from 10 per cent initially
- But the bank warns that Melbourne property values will fall twice as much as the national average
- New home lending is up almost 12 per cent fr…
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