Australian house prices predicted to decrease dramatically

 Skyrocketing house prices are predicted to stall across Australia by May and to even drop by the end of December, according to Westpac, before a dramatic decrease in the coming years.

The major bank has predicted that overall house prices will rise by just 2 per cent for the whole of 2022.

It’s a stark difference to the whopping 22 per cent increase in property prices in 2021 – the strongest annual growth since 1989.

Westpac has further predicted Australian house prices will fall by 7 per cent in 2023 and by a further 5 per cent in 2024 in its latest report.

Read More: https://www.news.com.au/finance/real-estate/buying/westpac-predicts-prices-to-plunge-in-overheated-property-market/news-story/8c6f830c9c5f07664e0e402b2f282818



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