Sky high real estate prices tipped to lose their sizzle, say banks

Tuesday April 27, 2021

The housing boom may have reached its peak with reports suggesting the “red-hot pace’’ of spiralling prices may be slowing.

Auction clearance rates are weakening. (Photo: Hunter Galloway)

Westpac said it was still “bullish’’ about the market “but we do not expect the red-hot pace of the first few months of 2021 to continue’’.

CoreLogic’s Tim Lawless has backed that up and the ANZ said its survey found consumer confidence was being impacted by lockdowns, with Brisbane’s falling 4.9 per cent.

“There are some early signs the exuberance in the…

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