Australian real estate predictions | Will property prices boom or bust? | 7NEWS
CBA forecasts when home buyers can expect Canberra property prices will fall
Canberra property prices are predicted to fall by 10 per cent but not before the "phenomenal lift" in prices peaks in 2022, the Commonwealth Bank of Australia has predicted.
In its latest forecast, the lender said the Australian housing market was in the "twilight of an incredible boom", spurred on by record low mortgage rates.
CBA expected property prices to rise further next year, albeit at a slower rate than 2021, before falling in 2023.
On the back of 22 per cent growth in 2021, national prices are predicted to rise a further 7 per cent next year and fall by 10 per cent in 2023.
Canberra properties, which have seen 26 per cent growth this year, are …
More on: www.canberratimes.com.au