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news.com.au 25 Nov, 2021 05:45 am

Australian housing market: New report predicts prices will drop in 2022

Australian housing market: New report predicts prices will drop in 2022
Aspiring home buyers won’t have to wait much longer for the Australian property bubble to burst, with new figures predicting the market will plunge as early as next year.

Brisbane is set to defy the trend, with the Queensland capital set to grow by up to 14 per cent next year.“We cannot afford another year of 20 per cent plus gains across the national housing market.Picture: NCA NewsWire / Gaye Gerard It’s a slightly different outlook to an ANZ report from last week, which thought that the overall market was tipped to rise by six per cent next year, and then drop by four per cent in 2023.Louis Christopher, Managing Director of SQM Research, said: “As 2021 draws to a close, the national housing market is starting to show signs of a peak.

“If the Australian housing market does not slowdown by mid-2022, APRA will likely keep intervening in home lending until the market does slowdown,” Mr Christopher wrote.Aspiring home buyers won’t have to wait much longer for the property bubble to burst, with data showing the market will plunge earlier than expected.

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