Australian house prices are tipped to keep rising this year, with Sydney expected to soar by a massive 10%
Property group Domain has revealed its latest 2020 forecast, and it’s nothing if not optimistic about the market.
“We’re forecasting Sydney and Melbourne prices to rise rapidly in 2020,” Domain economist Trent Wiltshire wrote in the latest report on Wednesday, while noting the market would be more moderate in 2021.
“Very low-interest rates and the expectation that interest rates will remain low will be the key drivers of rising property prices in 2020.”
Wiltshire also pointed to strong population growth, slowing construction leading, increasingly constrained supply, as well as the government’s First Home Loan Deposit Scheme as pushing prices up.