The National Australia Bank's quarterly residential property survey:

  • predicts national growth in house prices of 2.1% 9compared with 7.7% for 2015)

NAB group chief economist Alan Oster

"Average national house price growth is expected to moderate in 2016 to 3.4 per cent, largely reflecting our forecasts for rising unemployment, sluggish household income growth, affordability concerns - especially in Sydney and Melbourne, cost of living pressures and still high levels of household debt"

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To the extent that this eases RBA concerns over house price gains it's increases the possibility of RBA rate cuts