The NAB Residential Property Index is forecasting price growth this year and next year – and that’s significant because it’s rare for this report to find any thing positive to say about Australian real estate.

NAB has been publishing this quarterly index report for many years and its hallmark is being extremely negative or conservative about property prices across Australia.

It forecast price decline in 2020 but prices rose and it forecast very moderate growth in 2021 and we saw an extraordinary property boom.

So to have the NAB Residential Property Index predicting solid increases in house prices not only this year but in 2024 as well is, I think, quite significant.