17 Jul '17, 7am

Australia house prices not headed for a crash, UBS | Overseas | PropertyGuru.com.sg

With dwelling unit commencements in Australia down 19 percent year-on-year in Q1 2017, UBS economists are increasingly confident that a correction in the residential sector is “unfolding”, reported The Sydney Morning Herald. In a report to clients, Scott Haslem and George Tharenou even described house price growth in Australia as “unsustainable.” Despite this, they do not expect house prices to crash. This comes as the annual rate of house price growth are expected to slow further from a capital city average of around 10 percent in the year to June to seven percent by year-end. By 2018, house prices are expected to grow by zero to three percent. “Under our base-case view of a ‘correction but not a collapse’, we see a ‘muddle-through’ outcome, which leaves the RBA holding the cash rate steady over the coming year,” said the report. A slower pace of house building has also b...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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