news

Rising house price expectations heating up

By Staff Reporter

Most Australians expect house prices to be higher in a year’s time - the most bullish outlook since mid-2010, a recent survey has found.

The Westpac and Melbourne Institute survey found 62 per cent of respondents expected house prices to rise over the next 12 months, while 30 per cent expected prices to remain stable. In comparison, only eight per cent believe there will be a fall - the lowest figure since April 2010.

The survey's house price expectations index also jumped to 53.9 per cent in April, from 26.7 per cent in January. The index is calculated by measuring the number of respondents expecting prices to rise minus those who expect a fall. 

Matthew Hassan, a senior economist at Westpac, believes the result is evidence that Australia’s housing recovery is consolidating, and that buyers’ activity is unlikely to slow down in anticipation of lower prices. 

“This is a substantial improvement, marking a break from the ‘moderately positive’ range the Index had been stuck in since January 2012,” Mr Hassan said. 

“After an extended period of uncertainty, Australian consumers now look to be much more convinced that house prices are on the way up.” 

Rising house price expectations heating up
SPI logo
Thank you.

Your enquiry has been sent to a local Aussie Mortgage Broker.

We will be in contact with you shortly.
Opps.

error occurred.
Unfortunately Aussie cannot attend to your home loan related enquiry at this stage as you must be a citizen or permanent resident.
Do you need help finding the right loan for your investment?
What Aussie do for you:
  • Give expert mortgage advice to help you find great investment loan deals
  • Help you maximise return by lowering financing costs
  • Save you time and effort by helping with the paperwork
First name
Last name
Location
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
BLUE BAY 49.18%
2.
PAMBULA 43.5%
3.
BERKELEY VALE 42.74%
4.
POINT PIPER 40.52%
5.
NORTH TURRAMURRA 38.12%