According to The Australian Financial Review, ANZ raised its growth expectations for Australia's house prices for the third time since the markets bottomed out in May last year, after lower interest rates and easier access to credit fuelled a stronger-than-expected rebound in the second half of 2019.
The bank is now expecting dwelling prices to climb by 8 per cent this year, up from the 6 per cent it predicted in October.
Melbourne is forecast to lead the charge with a 12 per cent growth. In October, ANZ was expecting prices to rise by 9 per cent.
Sydney's dwelling values are expected to lift by 10 per cent – an increase of 3 percentage points from the bank's previous forecast.
ANZ is forecasting a 5 per cent rise in Brisbane's home values, 3 per cent growth in Adelaide, 4 per cent in Perth and 3 per cent in Hobart, this calendar year.
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