(CU)_Despite extended lockdowns in several states and regions in Australia, house prices have continued to post strong gains across the country. Even in some of the most heavily affected markets like Melbourne, Sydney and Canberra, prices have recorded a strong double-digit annual growth. Therefore, it has become evident that the travel restrictions have failed to dampen the growing demand for low supply, causing Westpac to lift its forecast for price growth in Sydney by 5 percentage points to 27 per cent for this year.
Accordingly, a top credit rating agency projects that housing affordability in the NSW capital will deteriorate to…
