1 Sep 2020

House prices defy expectations and hold steady

From Midday Report, 12:42 pm on 1 September 2020

Property prices are holding their own as various Covid support measures, low interest rates and a lack of listings underpin the market.

Corelogic's house price index was down just zero-point-two in the three months ended August.

The numbers defy the forecasts of a major fall in prices from economists at the start of the Covid pandemic, with most now revising those down.

Philippa Tolley spoke with Westpac's Chief economist, Dominick Stephens.