Fitch tips 10pc fall in house prices as immigration weakens

Original article by Ben Wilmot
The Australian – Page: 15 : 23-Sep-20

Fitch Ratings has forecast that housing prices in Australia will fall by 5-10 per cent over the next 12-18 months. The credit ratings agency says the reduction in net immigration due to COVID-19 travel restrictions and the resulting impact on population growth will weigh on the residential market; it also warns that the restrictions are unlikely to be eased well into 2021. The National Housing Finance & Investment Corporation recently estimated that underlying demand for new houses and apartments could fall by up to 232,000 over the next three years as a result of the coronavirus.

CORPORATES
FITCH RATINGS LIMITED, NATIONAL HOUSING FINANCE AND INVESTMENT CORPORATION – ASX NFI

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