The tide is turning on house prices
ANZ chief economist Sharon Zollner says forecasting house prices can be a bit of a mug’s game.
“Accounting for the structural and cyclical impacts of policy changes isn’t straightforward, particularly when there are multiple ‘policy shocks’ occurring over different time horizons.”
The bank is adding another house price headwind to an already-lengthy list - the Government’s housing density legislation, which brings additional downside risks to the price outlook, particularly over the medium term.
“As summer and the New Year approach, it’ll pay to keep a close eye on the listings data and migration settings and outturns. Both could shift the dial for this house price cycle in a meaningful way.”
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