Spring Selling Season to Herald ‘Mini Boom’

According to UBS’s latest prediction for the economic outlook the traditional selling season could potential herald a significant rise again in housing prices.

The continuing presence of low interest rates and cheap credit could trigger the shift in home prices, as economic growth remains at its lowest levels since the Global Financial Crisis.

UBS has predicted that home prices could increase up to 5-10% year on year on the back of data released this week by the Australian Bureau of statistics showing mortgage demand was on the rise, specifically in the NSW and Victorian capital cities.

CoreLogic research Analyst Cameron Kusher said that these results “has also mirrored the jump in auction clearance rates”.