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Property price growth expected to surge in 2021

Property price growth is expected to rise between ten and seventeen per cent as owner-occupiers look to take advantage of record low interest rates, according to Realestate.com.au’s Ian Healy.

House prices have risen 7.4 per cent in the past year despite the global pandemic, with all four of the major banks predicting the trend will continue in 2021.

New home sales surged almost 40 per cent in the March quarter compared to the same period last year as Australians sought to take advantage of the federal government’s HomeBuilder grants scheme.

Mr Healy told Sky News while the HomeBuilder scheme is coming to an end, the banks still expect prices to surge.

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