While properties in Melbourne, Adelaide and Hobart are set for a modest year in terms of property price growth, other parts of the country are likely to enjoy robust rises in home values over 2012, Australian Property Monitors (APM) senior economist Dr Andrew Wilson has claimed.
“I think Canberra and Sydney will be resilient and steady as usual, with Darwin, Brisbane and Perth to be the real stars next year,” Dr Wilson told Real Estate Business.
“We are looking at five to 10 per cent price growth in Brisbane, Perth and Darwin over 2012.”
“And while that may sound like quite a lot of growth, it will basically bring these cities back to where they used to be only a few years ago.”
Dr Wilson’s comments come not long after the release of APM’s annual State of the Market Report which found, in the quarter to October, national median house prices fell by 1.6 per cent and were down by 4.2 per cent over the year.