Brisbane Property takes off - House prices to jump 9.5pc in 2021: ANZ
One of the nation’s biggest banks ANZ has quashed fears of a housing crash and are now predicting a surge for the Brisbane house prices next year.
ANZ acknowledge their earlier forecast of a 10% drop in property price values was “too pessimistic” and are now predicting big gains in 2021. They are now forecasting Brisbane is set to experience the strongest growth of all capital cities, after Perth, with prices to jump 9.5%.
An early vaccine rollout for COVID-19 and the resulting lift to sentiment could drive larger price gains than currently anticipated.
Many deferred home loans have now moved back to regular payments, providing banks with more confidence in their outlooks.
Elizabeth Tilley, journalist for the Courier Mail said “ANZ follows Westpac in being the second of the big four banks to revise their outlooks for house prices to ensure growth for Brisbane”.
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Source – Courier Mail 17/11/20