Australian's golden run of property price growth will end "sharply" this year, predicts global credit agency Fitch Ratings.

In a new report, Fitch predicts that a combination of low affordability, exposure to US rate hikes, and prudential regulations will add up to a much slower rate of growth in a number of Asia-Pacific countries including Australia.

"The pace of house-price growth should decelerate particularly sharply in Australia and New Zealand this year; while the decrease should continue in Singapore, with prices dropping by a further 5 per cent from last year," it says.

Fitch forecasts growth will clock in at about 2 per cent in Australia in the coming year about half that likely across the ditch in New Zealand.