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Latest Westpac Housing Pulse News

Forecasts turning murky as lockdowns begin to bite

One of Australia’s biggest banks says the nation’s property markets are heading into a period of heightened uncertainty and unpredictability, as Melbourne’s lockdown begins to take a bite out of buyer activity.

Melbourne suburbs with CBD in background on a cloudy day
Melbourne's restrictions on inspecting property are looming as a big challenge for both buyers and sellers. Photo: Shutterstock

One of Australia’s biggest banks says the nation’s property markets are heading into a period of heightened uncertainty and unpredictability, as Melbourne’s lockdown begins to take a bite out of buyer activity.

Big four bank Westpac this week released its monthly Housing Pulse report, which described current conditions in Australian housing markets as “very tricky territory”, with virus-related lockdowns combining with an extraordinary price boo…