Westpac sees rekindled house price inflation of 7%

Tue, 21 May 2019

By Jenny Ruth May 22 (BusinessDesk) - Westpac is expecting house price inflation to take off again thanks to the government’s decision to scrap plans for a capital gains tax and falling mortgage rates. That puts paid to another cut in the official cash rate. Chief economist Dominick Stephens says he’s expecting house price inflation nationally will jump from 1.3 percent to more than 7 percent during the next year or so. “That should spur consumer spending and remove the need for a further OCR reduction from the Reserve Bank,” Stephe...

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