Here is a snapshot of the various research and commentary:
Corelogic/NAB quarterly survey - forecasts that Sydney house prices to continue growth (4.5%) with apartment to cool (1% growth) noticeably.
BIS Shrapnel, who was the most doom and gloom, believe a correction in prices in '17, maybe into '18, Sydney house prices flat to down a couple of per cent over the next few years, while apartment prices could drop 4 or 5 per cent.
CBA - Sydney and Canberra predicting median growth of 5% for semi and detached houses in both cities. Senior economist Michael Workman said house price increases will slow to 5 per cent in Sydney and 7 per cent in Melbourne next year, with apartments weaker.
HSBC - Chief Economist Paul Bloxham saying he expects “the oversupply in the apartment market, particularly in the inner city, is likely to start showing through in price falls”.
ANZ/Property Council Survey - The March quarter survey showed that firms are considerably more optimistic around the outlook for the property sector. Confidence reached a 2-year high, with 31% of respondents expecting conditions in the property market to improve over the next 12 months.
AMP/Shane Oliver - Sydney and Melbourne are at the greatest risk, once they start to come off the boil. Apartments in areas of high supply are most at risk and could fall by around 15-20% into 2018. Price gains in houses are likely to slow in 2017 with falls of around 5-10% likely into 2018 in Sydney and Melbourne.