Australia’s housing market is expected to grow between 8%-10% over the next 2 years, say analysts from Big 4 banks – Westpac and CBA. The average house price in Sydney’s recent auctions is $1.68 million. One could say the economic stimulus in the way of low-interest rates and government incentives are creating a buzz around the housing market. Consumers have been couped up inside for almost 12 months and with less travel spending due to coronavirus border restrictions, a lot of people have increased savings in their bank accounts as well as a free flow of credit from banking institutes.
Australia’s Housing Market Surges, Which states are seeing the biggest rises?
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