"Not so good for homeowners": House price growth set to remain subdued

Housing is set to be a buyer's market for a while longer.  

The Pre-Election Economic and Fiscal Update shows housing price growth will peak at 3% by March 2028, down slightly from 3.2% in the budget update.  

Cotality Chief Property Economist Kelvin Davidson told Mike Hosking the further out you go, the more uncertainty there is, but there's potentially a general change underway in the market at the moment, and so growth may look lower in the future.  

He says there's a variety of reasons why this could play out —including higher supply, debt to income ratio changes and lower interest rates— and it's not so good for homeowners. 

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