Australia: Will housing prices bottom in 2019? - Westpac
David Goodman, analyst at Westpac, suggests that they are looking for the Australian growth to further slow in 2019, supported by the housing and the consumer, uncertainty surrounding the upcoming federal election and a less favourable international backdrop.
“On housing specifically, we have seen a further weakening as lending standards tighten. A key question for the Australian economic outlook will be how long these conditions carry into 2019 and relatedly the possible downside “wealth effects” of this correction.”
“Our measures of housing sentiment have improved slightly, however, contemporaneous measures such as auction clearance rates show that other factors (e.g. credit availability, tightening loan criteria and falling investor activity) are dominating.”