Total spending went up 0.6% m/m. Overall, total consumer spending increased 1.9% in 3-month average terms and 6.5% over the past 12 months.
Report
November 6, 2015
Brief Update: House price outlook – 6 November 2015
Australian residential property price growth has continued to surpass expectations in recent quarters, suggesting more limited scope for further gains.
- Australian residential property price growth has continued to surpass expectations in recent quarters, suggesting more limited scope for further gains.
- Consequently, NAB Economics has reduced its forecasts for detached house price growth in 2016. Nationally, prices are now forecast to increase 2% in 2016 (from 3%), largely reflecting a slower pace of growth in Sydney and Melbourne.
- While price growth will slow, a sharp correction in prices is still not expected given supportive market fundamentals and continued foreign demand for new dwellings.
- Risks have increased, however, especially in the apartment market which has seen a sharp increase in construction activity.
For further details please refer to the attached document.
Brief Update: House price outlook – 6 November 2015 (PDF, 274KB)
