Sydney House Prices To Climb 21%
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Sydney House Prices To Climb 21%

The latest predictions from NAB forecast a significant lift.

By Terry Christodoulou
Tue, Jul 27, 2021 11:34amGrey Clock < 1 min

NAB has adjusted its growth forecast for Sydney housing prices by a substantial 7% to 21.6% this year – following the record-breaking results seen in the first half of 2021.

The bank has also readjusted its 2022 prediction, halving gains.

Away from the NSW capital, the bank also upgraded its expectations in other capitals – Melbourne now forecast to grow by 17.6%, up from NAB’s April prediction of 16.2%.

Elsewhre, Brisbane is expected to see 19.5%, Adelaide 17.4%, Perth 11.6% and Hobart 23.5% respectively.

NAB expects 2022 to slow significantly, expecting house prices to grow by 3.1% in Sydney, 3.5% in Melbourne, 4.4% in Brisbane, 3.4% in Adelaide, 3.9% in Perth and 4.3% in Hobart.

This comes as the bank adjusts its April figures which suggested 2022 would see Sydney house prices rise by 6%, Melbourne 5.5%, Brisbane 6.2%, Adelaide 6%, Perth 5.6% and Hobart by 6.1%.

The combined capitals are predicted to see home prices jump 18.5% in 2021 and 3.6% next year, bringing questions of housing affordability spurred on by record low interest rates into discourse.

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Be prepared to see this shade of stunning red everywhere next year

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Paint company and international arbiters of colour, Pantone, have announced the 2023 Colour of the Year – and it’s a sumptuous shade of red.

The deep hue, Viva Magenta is a bold choice, designed to challenge and invigorate as the world powers out of almost three years of uncertainty and anxiety.

Describing it as ‘a new vision’, Pantone’s Twitter account said Viva Magenta was “vibrating with vim and vigour, a shade rooted in nature descending from the red family demonstrating a new signal of strength”.

It’s a dramatic departure from the choice for 2022, Veri Peri, a mix of lavender and blue, reflecting a desire for reassurance.

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What goes up, must come down. But not necessarily this fast. Canadian marijuana stocks that posted staggering gains on Wednesday fell just as fast Thursday, while U.S. multistate operators, or MSOs, were dragged down, but fared a bit better. Tilray stock (ticker: TLRY) fell 49.7% Thursday, erasing all its gains from the prior trading day. Aphria stock (APHA) closed down …

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