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