New South Wales (NSW) could be beginning to see the start of a housing revival, an expert has suggested.
Stephen Roberts, an economist at Nomura, has told Business Day that the recent 2.2 per cent rise in housing finance for owner-occupiers in the region – while small in comparison with increases in South and Western Australia – is significant for another reason.
He said: "The interesting part about NSW is it's now been up three months in a row. There may be the beginnings of a revival."
Mr Roberts added that while there is a growing number of first-home buyers entering the market, this has yet to be a significant in-road.
Business Day stated that other housing indicators have been less positive, with auction clearance rates below 60 per cent in several significant markets and the number of houses for sale remaining at a record high.
Earlier this week, Australian Property Monitors senior economist Dr Andrew Wilson told the Sydney Morning Herald that Australian property prices have remained relatively stable over the last few months.
Posted by Ravin Chatlani
Stephen Roberts, an economist at Nomura, has told Business Day that the recent 2.2 per cent rise in housing finance for owner-occupiers in the region – while small in comparison with increases in South and Western Australia – is significant for another reason.
He said: "The interesting part about NSW is it's now been up three months in a row. There may be the beginnings of a revival."
Mr Roberts added that while there is a growing number of first-home buyers entering the market, this has yet to be a significant in-road.
Business Day stated that other housing indicators have been less positive, with auction clearance rates below 60 per cent in several significant markets and the number of houses for sale remaining at a record high.
Earlier this week, Australian Property Monitors senior economist Dr Andrew Wilson told the Sydney Morning Herald that Australian property prices have remained relatively stable over the last few months.
Posted by Ravin Chatlani
