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Some property markets set to go backwards in 2015/2016

By Staff Reporter
7

House prices outside Australia’s big three 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.

There are also expected to be increases of seven per cent 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.

Apartments in Melbourne and Hobart are forecast to increase by four per cent, while there are expected to be three per cent gains for Brisbane, Adelaide, Canberra and Darwin.

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

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