Australia - HSBC says some signs the housing market is starting to stabilise
HSBC have been more upbeat on the Australian economy than many analysts.
Having said this, they are tipping an RBA rate cut on Tuesday (June 4).
HSBC chief economist Paul Bloxham points to signs the housing market is starting to stabilise
rising auction clearance rates in the major cities
- consumer sentiment surveys suggest improvement in good time to buy a dwelling
- "The housing market is also expected to be supported by cash rate cuts over the coming months, which should see mortgage rates fall, and a recent loosening of prudential settings by the authorities, both of which should support the flow of finance"
- expects house prices to stop falling in H2 2019
- higher in in 2020
I haven't seen forecasts from HSBC for further cuts from the RBA after June. (Not saying they haven't jut I haven't seen them if they have)