A top economist for the National Australia Bank says Western Australia is poised to survive the national property downturn better than most, but it will be hampered by a lack of jobs, border controls and historically low oil prices.
NAB predicts the average Perth house price will drop 1.2 per cent for the year and 3.5 per cent next year, with national prices, collectively, due to drop 10-15 per cent due to rising vacancy rates.
Read the full story which recaps UDIA WA’s recent Member Briefing with NAB economist Ivan Colhoun, here.