Business
‘On the cusp of a boom’: Double-digit house price rise tipped as banks continue rate cuts – Sydney Morning Herald
Economists for the nation’s biggest mortgage lender believe house prices in Sydney and Melbourne will rise by at least 12 per cent over the next two years.
Commonwealth Bank predicted on Monday prices would continue to lift. It believes Sydneys prices will climb 7.5 per cent this year and 5.8 per cent in 2022 and is tipping Melbourne prices to increase 7 per cent in 2021 and another 5 per cent the following year.
That would take Sydneys median house price towards $1.2 million and Melbournes beyond $920,000.
Dwelling prices are tipped to climb by 16.6 per cent in Brisbane over the next two years, 17.7 per cent in Perth and 15.5 per cent in Canberra.
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