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This week’s property news video with Kevin Turner | 9th July

In this week’s 2 minute property investment news video the annualised house price results for 2012/2013 show that prices rose 3.8 percent for urban Australia.

According to Michael Matusik, the annualised house price results for 2012/13 are in and they show for urban Australia  – the eight capital cities – that prices rose 3.8 per cent.  They actually fell, as an aggregate, across regional Australia last year, down by .4 per cent.

The winners were Darwin, up 6.1 per cent; Perth up 6.0 per cent & Sydney up 5.6 per cent.  Melbourne enjoyed a 3.4 per cent rise.

The other capitals didn’t do much at all.  Brisbane values were flat at 0.6 per cent.  Hobart’s fell by -1.8 per cent.

Economic forecasters BIS Shrapnel have forecast some pretty encouraging figures, in terms of price growth, for the next three years.

[sam id=31 codes=’true’]Between now and the end of fiscal 2016 BIS Shrapnel think that Sydney’s average values will lift by 19 per cent; Brisbane’s by 17 per cent & Perth’s by 15 per cent.  Melbourne’s prices are expected to rise by just 5 per cent over that three year period.

In other news and as we have reported previously, Sydney’s recovery is well underway.  Demand is on the increase & strong prices are being achieved for properties priced under $2 million.

Weekend clearance rates are well over 70 per cent; loan applications are rising & almost half the buyers are investors.

There is evidence from the past that would indicate that “peaks head north”, with Brisbane, then both the Gold and Sunshine coasts seeing a lot more inquiry from later this year.

It is just starting to happen in Brisbane with Sydney investors starting to buy.  While we are looking at the markets – the Gold & Sunshine Coasts were in the past oversold but that has now corrected and both coasts are now being touted as ‘great buying’ as this cycle improves.

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Kevin Turner

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Australia's leading independent property commentator, brings together leading authorities on the property market. Each week at Real Estate Talk we take a fresh look at the property market so you get all the facts to help you make the right choice.
Visit www.RealEstateTalk.com.au


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