Australians are increasingly optimistic about house price growth over the coming 12 months according to ME’s latest Quarterly Property Sentiment Report.
According to the report only 17 per cent of respondents are expecting house prices to fall over the coming months, down from 28 per cent in the previous quarter, with 38 per cent expecting prices to rise (32 per cent in the previous quarter), and 30 per cent expecting them to remain stable (up from 29 per cent).
House Price Expectations By State (2019 3rd Quarter)
However, respondents noted that they remain concerned about housing affordability, with 93 per cent agreeing that despite price falls in some areas, they still think housing affordability is “a big issue”, up from 88 per cent in the previous quarter.
ME reported that all other perceived worries queried in the report have eased over the past three months, including concerns about tighter credit policies (10 percentage point drop), concerns over negative equity (7 percentage point drop), concerns about being forced to switch to interest-only repayments (7 percentage point drop) and concerns about property values falling (5 percentage point drop).
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