'Scomo effect': House prices tipped for huge spike by July

Australia’s housing market downturn is coming to an end, with leading economists predicting a spike in house prices as soon as July.

“Australia’s house price growth reached its worst on an annualised basis in January. Prices have continued to fall since then, but the rate of decline has slowed,” the bank wrote in a statement. “With the surprise Coalition election win, APRA’s policy change and an expected June RBA rate cut, we are more confident Australian house prices could rise within months,” the note read.AMP Capital chief economist Shane Oliver shares similar sentiments.

A swing in property prices has been supported with the Commonwealth Bank saying last week it saw the highest level of home loan applications in ten months.

😂🤣😂 Australias bullshit news

Must be the shortest downturn Eva,

You keep telling yourself that🤪🤪🤪

🤣🤣🤣🤣🤣🤣🤣🤣🤣 Total lies and crap.

The reserve bank just cut interest rates and are forecast to cut it 2 more times this year because the economy is crashing and housing is dropping faster than the GFC. Along with Scomo's TRILLION DOLLAR DEBT that this is all lies again by liberal affiliated media groups😅 auspol

TIMTAM22412241

It never happened...People screaming house prices 'fell' to 2016 levels, as if they were so cheap allllll the way back then. And who the fuck notices what was $890,000 'plummeting' to $820,000. A nice little saving perhaps for the wealthy and still no chance for anybody else.

They must be high..

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Source: SkyNewsAust - 🏆 7. / 78 Read more »