Original article by Michael Bleby
The Australian Financial Review – Page: 4 : 13-Jul-18
National Australia Bank has revised its housing price forecasts for 2018 and 2019. The bank now expects house prices to fall by 1.8 per cent in 2018, compared to the 0.8 per cent decline it had forecast in April. NAB also predicts that the price of detached dwellings will fall by 0.1 per cent in 2019, having previously forecast an 0.8 per cent rise. It has also reported that property investor confidence has declined to a two-year low, while a recent ANZ/Property Council survey reported that the availability of housing finance has slumped over the past three months.
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, PROPERTY COUNCIL OF AUSTRALIA LIMITED, RESERVE BANK OF AUSTRALIA