State growth predictions revealed

State growth predictions revealed

by 0 comments

A new analysis from NAB has identified which property markets will perform the best - and the worst - over coming years.

The Queensland market came out on top, with growth of 3.1 per cent predicted over the next 24 months.

Nonetheless, expectations have eased since the first quarter of 2014, when two-year growth of over four per cent was forecast.

Victoria is also tipped for a strong performance in the next two years, with capital growth of 2.4 per cent.

Current growth leader, New South Wales, is expected to fall back to growth of just two per cent.

In the rental market, however, New South Wales will surge ahead, with predicted rent increases of 2.4 per cent.

Queensland will also provide solid rental growth of 1.8 per cent in the two-year period.

On the other hand, Western Australia came bottom of the pack in both the rental and sales sectors. Over the next two years, capital growth in the state is expected to be around 0.9 per cent.

Rental growth, meanwhile, will fall by two per cent in the same timeframe.

These predictions are reflected by confidence measures in each state, with property professionals in Queensland and Victoria reportedly the most positive, and those in Western Australia the least optimistic.

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2016

With a combined sales volume of $13 billion in 2016, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
How this agent's commitment to clientele built him a 25k-strong client base

In this episode of Secrets of the Top 100 Agents, host Tim Nearly talks to RT Edgar’s Glen Coutinho who ranked number six in this year’...

View all podcasts

How effective are testimonials as a marketing tool?

Not effective at all
Somewhat effective
Very effective
They are the most effective tool there is
Do you have an industry update?