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Where Property Price Are Tipped Grow?

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2015-11-02
QUEENSLAND is tipped to lead the country for housing price growth next year, as the price surges in southern states slow down.
New forecasts by NAB reveal the steam was coming out of the housing market nationally, but said there was still some kick left in individual states.

NAB chief economist Alan Oster tipped Brisbane for the strongest price growth in 2016.

NAB Group Chief Economist Alan Oster said the news was not all negative as the overall national figures masked some big differences across individual state markets.

NAB Economics has forecasted average national house price growth of 9.1 per cent over 2015, which is much higher than expected earlier in the year.

For 2015 capital growth will be led by Sydney and Melbourne, with house price growth forecast to be 14.6 per cent and 15.2 per cent respectively.

Only modest gains are tipped for Brisbane this year of 4.4 per cent, Adelaide values are predicted to drop by the end of the year by -0.4 per cent and in Perth house prices are expected to fall by-4 per cent.

The picture for many states is not as bullish next year. Mr Oster has lowered NABs previous forecast of 3 per cent growth in prices to 2.3 per cent.

He said this slow down would be driven largely by a moderation in both Sydney and Melbourne price growth.
Now might be the time to buy in Brisbane with prices tipped to grow next year. This four-bedroom Carindale home is listed for offers in the high $800,000. Picture: realestate.com.au

Sydney prices are forecast to only increase 1.2 per cent next year and Melbourne will slow down to about 3 per cent.

Brisbane is predicted to have the fastest house price growth of 4.5 per cent.

Adelaide is also set to improve with prices to increase by about 2.4 per cent.

Prices are tipped to remain weak in Perth through to next year with a drop of about 1.2 per cent.

The report also found foreign buyers would be active in most states, but would continue to be mostly focused on Victoria.

Mr Oster said the survey revealed foreign buyers had been more prominent in Australian housing markets in the September quarter, accounting for around 16 per cent of total demand in new housing markets and 9 per cent in the established housing market.

In Victoria they accounted for just over one in four of all new property sales and about one in seven sales of established homes.


Source: http://www.couriermail.com.au/realestate