Australian home prices - Prices look to have bottomed as the supply shortfall dominates, but watch rates and unemployment
Key points
- Australian home prices rose again in April & along with other indicators suggest the home price downturn is over.
- A surge in demand on the back of high immigration and constrained supply appear to be dominating the negative impact of higher interest rates
- As such we have revised up our property price forecasts to flat to up slightly for this year with a 5% rise next year.
- However, the risk of another down leg in prices is high as interest rate hikes continue to impact.
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