The bank upgraded its house price expectations for Perth, Brisbane and Adelaide as values there accelerate.
Already a subscriber?Perth’s house prices are on track to increase by 21 per cent over the next two years, National Australia Bank says in its latest forecast, lifting its earlier prediction by almost 4 percentage points this year alone as values accelerate.to jump by 13.7 per cent this year and gain another 6.2 per cent by the end of 2025.
In February, NAB predicted Perth values to increase by a total of 16.7 per cent by the end of 2025, it expected Brisbane to lift by 10.9 per cent and Adelaide by 11.3 per cent. The survey was conducted ahead of the release of the April inflation data which came in higher than expected at 3.6 per cent, prompting some analysts to push back theirNAB is expecting interest rates to remain on hold until November, by which time the economy would have slowed and the labour market eased.
Melbourne is forecast to rise by 2.5 per cent this year and another 3.7 per cent next for a total of 6.3 per cent over the next two years, which is also a tad lower than the 6.4 per cent the bank predicted earlier.
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