Australia’s housing market faces headwinds as supply likely to outpace demand, analysts say

Australian home prices are likely to slow down or even decline as supply is poised to outstrip demand this year, according to analysts.The highly infectious Omicron strain of the Covid-19 pandemic and various restrictions on foreign homebuyers – made up in large part by Chinese investors – will also weigh on the housing market.Residential prices in Australia rose to a historic high in November, surging 22.2 per cent from a year ago and adding about A$126,700 (US$90,278) to median home prices,…

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