NAB’s September quarter Australian Residential Property Survey, released today, tipped that Sydney and Melbourne house prices would slow abruptly next calendar year to 1.2% (Sydney) and (3.0%) Melbourne:
In an environment where income growth continues to be modest, these rates of growth are unlikely to continue, suggesting price growth will slow in 2016.
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Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
