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.
Subscribe & don’t miss a single episode of Michael Yardney’s podcast
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
Need help listening to Michael Yardney’s podcast from your phone or tablet?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
Prefer to subscribe via email?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.