NAB has released its Quarterly Australian Residential Property Survey and it shows falling sentiment in the housing market.
The outlook for prices has been scaled back across the board.
“There are now clear signs that the momentum in the dwelling market has eased, with dwelling prices slowing in nearly all capitals in the June quarter,” NAB says.
“NAB expects average capital city house prices to cool further over the next 2 years towards more sustainable levels.”
The bank is forecasting average house price growth of 4.6% through the year to June 2015 and 3.2% in the year to June 2016.
Brisbane (6.3%), Sydney (5.3%) and Perth (4.9%) are expected to lead the market in the next year, with slower growth forecast in Melbourne (3.1%) and Adelaide (1.8%).
Business Insider Emails & Alerts
Site highlights each day to your inbox.