Some property markets set to drop in 2015/16

Some property markets set to drop in 2015/16

21 January 2015 by Staff Reporter 0 comments

House prices outside Australia’s three biggest cities have been forecast to grow at or below the inflation rate in the medium term.

Property group Propell National Valuers forecast that Sydney house prices would rise 10 per cent during the 2015/2016 financial year.

An increase of seven per cent is expected for Melbourne and six per cent for Brisbane. 

Sluggish forecasts have been made for the other capitals – four per cent for Adelaide, three per cent for Hobart, and two per cent for both Perth and Canberra.

Darwin house prices are tipped to fall by two per cent during 2015/2016.

The apartment outlook is even softer, with Sydney again expected to lead the way, this time with seven per cent growth.

Apartment values in Melbourne and Hobart are forecast to increase by four per cent, while Brisbane, Adelaide, Canberra and Darwin are tipped to see a three-per-cent gain.

Perth apartment prices are expected to fall by two per cent during 2015/2016.

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