House prices on the ‘cusp’, could be up 3% by year end

Treasury’s chief economic adviser Dominick Stephens expects net migration inflows of up to 100,000 people. (Image: BusinessDesk)

Brent Melville

Wed, 28 Jun 2023

ANZ Bank is picking a 3% increase in house prices over the remainder of this year, on the back of tighter market conditions and “startling” migration numbers.Those tighter conditions are supported by data from the Real Estate Institute, which recorded a 2.1% month-on-month increase in house sales and faster sale turnaround, with average days to sell dipping from 53 days in February to 47 for May.The institute's numbers also showed month-on-month prices moving up by 0.2% during May, marking the first month of positive growth sinc...

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