House prices will slow and start falling in next three years — Westpac

Increased building and increased interest rates could see house price rises stall.

Thu, 04 Mar 2021

The current housing boom has passed its peak and the monthly pace of price increases will trend down from here, Westpac chief economist Dominick Stephens says.Stephens, who will take up a 10-month secondment as Treasury's chief economic adviser later this month, said he expects house prices to taper off as house building catches up with demand and longer-term mortgage rates ramp up.His comments come in the wake of a reported 14.5% inflation rate for house prices for the 12 months to January and a record 9% increase in the Real Estate Instit...

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