property market

Signs the property market could be about to take off

PHOTO: A Westpac-Melbourne Institute barometer of public attitudes taken this month found 57.8 per cent of people are expecting house prices to rise

  • Westpac-Melbourne Institute poll showed 57.8 per cent tipped house price rise
  • In January 2019, just 30.9 per cent of people saw real estate values increasing
  • Capital city auction clearance rates are also higher than before the pandemic 

Most Australians are expecting property prices to increase as interest rates hit a record low, a new survey has found.

A Westpac-Melbourne Institute barometer of public attitudes taken this month found 57.8 per cent of people are expecting house prices to rise, compared with just 30.9 per cent two years ago.

As of January 2021, 12.9 per cent of Australians are expecting house prices to climb by more than ten per cent – the highest since the start of the pandemic

Another 44.9 per cent are expecting house price rises of less than ten per cent, the House Price Expectations survey of 1,200 people taken from January 11 to 16 found.

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