Business
Property prices set to boom 16pc, says CBA – The Australian Financial Review
The property housing market is on the verge of a boom and property prices are expected to rise as much as 16 per cent over the next two years, Commonwealth Bank…
We forecast national house prices to rise by about 16 per cent over the next two years and unit prices to rise by about 9 per cent.
The bank points out that new lending has lifted sharply, dwelling prices are already rising briskly in most capital cities and turnover is up significantly on levels 12 months ago.
However, the key driver behind this boom was simply record cheap money and improving employment conditions.
The boom is being driven by record low mortgage rates coupled with a Vshaped recovery…
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