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Australian mortgage brokers are pessimistic about the immediate outlook for Australian residential house prices with two in five anticipating a decline over the next 12 months, a recent report from Core Data has found.
According to the report, which surveyed 329 mortgage brokers, 37 per cent forecasted residential property prices to fall nationally over the next 12 months, with 19 per cent expecting prices to remain flat for the same period.
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Meanwhile a bullish 44 per cent of mortgage brokers forecast Australian residential house prices to rise.
Only 22 per cent of brokers forecast residential property to rise in Western Australia.
The boom state is Victoria with 48 per cent of brokers forecasting price rises, supported by the state’s first home buyer stimulus; Queensland and New South Wales’ markets are also tipped to perform well with a respective 44 and 43 per cent of brokers forecasting a rise.
