Moody’s: No house price recovery until 2021

Via Moody’s:

Second-Quarter 2019 Housing Forecast Report

The May CoreLogic Hedonic Home Value Index results show the national housing market continuing its correction, led by Sydney and Melbourne. The national index for home values has fallen for almost two years. The decline has been sharper in house values compared with apartment values; house values have fallen almost 11% from their peak in mid-2017, while apartment values are down almost 7% from their peak. House values across Sydney declined 5.5% in 2018 and are forecast to fall a further 9.6% in 2019 before a slow recovery in 2020. Apartment values are set to decline by 7.3% in 2019, followed by a forecast 4% expansion in 2020.

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