Westpac revised its house price predictions in July 2021, acknowledging that their initial forecast in February was overly cautious. Instead of a 20% growth over 2021 & 2022, Westpac now predicts 18% in 2021 alone and 5% in 2022 followed by a correction in 2023 due to possible policy interventions triggered by housing credit growth. Note: Australia is 5 major capital cities combined measure; *10-year average. Source: CoreLogic, Westpac Economics
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