What to Watch - August 2021
This paper brings together a selection of economic and residential market data that can be used to assess how the housing market is performing.
Key points in this month's report:
- Housing market performance remains strong but some indicators have cooled off
- Demand has weakened slightly with approvals and new buyer enquiries down
- However, house prices are growing at the fastest rate in almost 17 years and sales volumes are at record highs
- The surge in sales volumes and prices in June partly reflects the tapering of the stamp duty holiday
- We expect activity to remain robust in the near-term as buyers can still take advantage of the stamp duty holiday