Boom Will Extend To 2022

Property prices will keep rising into further record territory next year, as the Australian economy’s stronger-than-expected recovery continues.

And there is a good chance that they could continue to climb after 2022, market experts say, although the rate of growth will eventually start to moderate.

Louis Christopher of SQM Research says there are more buyers than sellers and the evidence suggests the market will continue to rise. He estimates Sydney house prices have risen almost 20% in the past year, with Melbourne up 14%.

Prices in regional areas have also climbed, driven by those working from home who are seeking a cheaper lifestyle change.

Charter Keck Cramer director Angie Zigomanis says prices in Sydney and Melbourne could rise another 10% over the next 12 months. He forecasts that prices will remain robust for at least another 12 months before moderating.