Westpac economists expect Australia house prices to rise 5% in 2020

By Sophia Rodrigues

Economists at Westpac expect Australia's house price upswing to continue in 2020, rising 5%, but with getting capped in Sydney and Melbourse due to affordability issues. Displaced demand from Sydney would lift prices in other cities, most notably Brisbane, they say. Their forecast is for Sydney and Melbourne prices to rise 6%, after estimated gains of around 4% this year. Brisbane prices would rise 8% but Perth is expected to fall 0.5%, they say.