‘We’re past the worst for housing prices’: Uplift surprises ANZ Bank

One of the country’s biggest banks ANZ believes Australia’s property slump, short as it was, is over, saying ‘we’re past the worst for housing prices’.

Its latest forecast shows the Big Four bank now does not expect the property slump to be anywhere near as dramatic as what it forecast just eight months ago.

“We now think we’re past the worst for housing prices,” ANZ Research posted. “We expect capital city prices to end the year unchanged from December 2022 levels, before a modest rise in 2024.”

The upgraded market forecast was published in the latest ANZ Insight Report by senior economists Felicity Emmett and Adelaide Timbrell “given improved auction clearance rates, very strong population growth and indeed the recent lift in prices”.