Australians House Prices Article Courtesy of LJ Gilland Real Estate

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The following is for your perusal and information only. Cheers.

Australian house prices to rise 2.1% over next two years: NAB

By LSchlesinger
Thursday, 31 January 2013

Expectations for house price growth improved marginally in the final quarter of 2012 but remain very modest, with just 2.1% growth tipped for the next two years, according NAB’s December 2012 quarterly residential property index survey.

This compares with September quarter expectations of a 1.7% gain in house prices over the next two years.

The expectations are based on the sentiments of around 270 property markets participants, predominantly estate agents (39% of respondents), property owners and investors (20%) and developers (17%).

They indicate that despite rate cuts and improving housing affordability, there is still much caution among those directly involved in the property market about medium-term prospects, though they have brightened.

The survey found that concerns over housing affordability are falling slowly as interest rates fall but are still “significant”.

In addition, property professionals remain concerned about the domestic economy and a weakening labour market, with “employment security entrenched as the biggest impediment to purchasing existing property in all states”.

“Access to credit also seen as a ‘significant’ impediment to purchasing existing property,” NAB says of the survey results.

Property professionals expect “good” capital growth prospects in the sub-$500,000 market next year, but the outlook for premium stock is still “poor”.

The strongest outlook is for the mining-states of Western Australia and Queensland, where house prices are expected to increase by 3.6% and 2.2% respectively over the next two years, driven by strong state economic growth, migration and rental growth.

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Perth will be the strongest performing capital city market with capital growth forecast to run at around 3.5% through the year to end-2013 and 5% in the year through to end-2014, “underpinned by improved affordability, population growth and above average state economic growth”.

Brisbane house prices are forecast to increase by 1.7% over 2013 and then by 3.5% over 2014.

Stronger price growth is also tipped for NSW (1.8% over the next two years compared with 1.5% in the previous quarter), with Sydney set to outperform with growth of 2.1% in 2013 and 3.7% in 2014.

Expectations also improved in Victoria, where property professionals now expecting house prices to grow by 1.9% in the next two years, having previously forecast 0.9% growth.

Melbourne house prices are expected to continue to tread water over 2013 – rising just 0.4% – but are expected to pick up slightly in 2014, rising by 2%.

Expectations for house price growth over the next two years for the combined South Australia/Northern Territory market were scaled back to 1.5%, from 2.4% previously.

Melbourne along with Adelaide (growth of 0.1% in 2013 and 2% in 2014) are forecast to be the worst-performing markets for house price growth in 2013 and “will continue to lag the capital city average with state economic conditions and employment prospects in both these states also expected to remain tougher”.

The overall index rose 4 points in the final quarter to sit at 8 points attributed to the rate of decline in national house prices slowing and rents growing.

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Linda-Jane Debello has sent you a link to a blog:

For your perusal and information with best regards for the New Year 2013.

Blog: Linda
Post: RP Data Rental Market Analysis
Link: http://ljgilland.blogspot.com/2013/01/rp-data-rental-market-analysis.html

Linda J. & Carlos Debello, LJ Gilland Real Estate Pty Ltd

Tel: (07) 3263 6085 | Mobile: 0409 995 578 & 0400 833 800 http://www.ljgrealestate.com.au/index.php?lan=ch

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Removing the Hassle from Sales and Rentals across South East Queensland. Aim to Empower other like minded Property Investors. L J Gilland Real Estate is a prestigious boutique agency specializing in Property Investment Management Services and the Sales of Investment Properties with tenants in place. Comprised of a top performing group of handpicked specialists, our Agents proudly serve Property Investors in Queensland. Since 1996 our Agency has demonstrated a genuine enjoyment of working with people, developing long-term relationships and delivering on the promise of great service. Carlos and Linda Debello offer property investor's the confidence to sell and lease in any market. We provide comprehensive market appraisals, exclusive multimedia marketing campaigns, and knowledgeable, highly personalized counsel on all aspects of real estate. Our Property Management Team is equally considerate, offering investors with in-depth advise, well-researched rental valuations, and highly professional rental management services. http://goanimate.com/movie/0M4bvcZzgIbI?utm_source=linkshare&uid=0u6RGtWsmlVc Carlos’ direct mobiles are 0400 833 800 & 0413560808. Linda’s mobiles are 0409995578 & 0414978700 (prefer email contact for Linda). Office 07 3263 6085. http://www.ljgrealestate.com.au http://www.yellowpages.com.au/qld/aspley/lj-gilland-real-estate-pty-ltd-14091356-listing.html http://au.linkedin.com/in/lindajanedebello http://twitter.com/GillandDebello http://www.facebook.com/pages/ljgrealestate
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