ANZ econmist, Elizabeth Tilley,
The Courier Mail
ONE of the nation’s biggest banks has quashed fears of a housing crash by changing its outlook, tipping a surge in Brisbane house prices next year.
Economists at ANZ believe their earlier forecast of a 10 per cent drop in capital city house prices is “too pessimistic”, and are now predicting gains of about 9 per cent in 2021.
“An early vaccine rollout and the resulting lift to sentiment could drive larger price gains than we currently anticipate,” ANZ economists Felicity Emmett and Adelaide Timbrell write in the bank’s latest housing outlook report.
“That said, we think regulators would be quick to step in with macro prudential measures if the market looked be overheating.”
Low interest rates, government stimulus measures and a bounce in confidence as the second wave of the pandemic comes under control are expected to mitigate the risks imposed by higher unemployment and low population growth in 2021.