Business
Australian housing market to experience ‘up crash’ on back of homebuilder mini-boom – investment bank – The Guardian
UBS’s George Tharenou says house prices could soar more than 10% in 2021 on the back of homebuilder and responsible lending rule changes
Australias housing market is set for an up crash as the governments homebuilder subsidy scheme prompts a spike in construction that will rapidly fall away, investment bank UBS says.
George Tharenou, the chief economist at UBS in Australia, said due to the homebuilder spending spree he had increased his estimate of the number of houses that would be built in 2021 from 185,000 to 230,000 well above the 175,000 level predicted by other economists.
House prices are likely to rise by 5-10%, but there…
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