CommBank Global Economic & Markets Update podcast

Dwelling prices to fall in 2023

November 22, 2021

The Australian housing market has performed strongly in 2021.  Dwelling prices have risen by a little over 20% nationwide. However rising fixed rate mortgages, affordability constraints and a change by APRA to the serviceability buffer are expected to see dwelling price growth moderate over 2022.  Following an expected 7% increase in prices over 2022, we forecast an orderly fall of 10% in home prices over 2023 as the official cash rate is expected to rise from November 2022. Gareth Aird, Head of Australian Economics runs through the forecasts and the importance of interest rates on the housing market in this podcast with Belinda Allen, Senior Economist.


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