NAB’s latest Q4 property survey spells more bad news for Australia’s housing market, with confidence sinking to a fresh low and house price expectations sinking:
Average survey expectations for national house prices for the next 12 months were cut back further in Q4, and are now tipped to fall -2.4% (-1.0% in Q3). This largely reflected a big downward revision by property professionals in VIC, who now expect prices to fall by a much bigger -4.0% (-2.4% forecast in Q3). In NSW, expectations were also scaled back heavily to -3.9% (-2.4% forecast in Q3)
