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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)
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About the author
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.
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