Property values in Sydney and will rise as investors enter the market and many suburbs have been tipped for growth, according to a leading real estate group.
Real estate prices in Sydney and Perth will rise by up to 5 per cent this year, while Brisbane will sProperty values will rise as investors enter the market and many suburbs have been pinpointed for growthtabilize, Raine & Horne CEO Angus Raine said.
"In Sydney, the market between $400,000 and $650,000 will continue to show positive signs in 2012, with investors re-entering the market, replacing the expected shortfall of first home buyers due to the end of the stamp duty concessions on existing homes," said Mr Raine.
Price will be the driver for buyers considering Sydney investment opportunities in the below $650,000 bracket.
"We also expect to see more investors in the North Perth market in 2012,” said Raine & Horne operations manager Sean Green.
In Queensland, Raine & Horne New Farm has seen an increase in sales. Mr Green says that this is the end of a period of slumping property prices.
"Indeed savvy investors seem to be leading the way with inner ring suburbs such asand New Farm already in their sights,” he said.
There are still opportunities for investors outside of Brisbane.
"The Noosa Hinterland is about 26 kilometres from the Maroochydore airport, which is an important consideration for baby boomers.”