General
House prices to surge in Australian capital cities, driven by ‘aggressive’ Government stimulus
House prices, which are already making a strong recovery from the COVID-19 recession, are likely to inflate further in 2021.
Key points:
- Perth, Sydney and Adelaide are expected to see the biggest price rises next year
- Australian borrowed $22.7b in October to buy property (a record high)
- It was driven by first home owners and the HomeBuilder stimulus program
Australia’s capital cities may see prices surge between 5-9 per cent, according to a new report by property analysts SQM Research.
It said interest rate cuts, the “aggressive government stimulus” and the winding back of responsible lending laws will be the main factors driving these price rises.
These predictions coincide with the latest figures from the Bureau of Statistics (ABS), which…
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