How the states/territories will perform in 2013
As we enter 2013, investors are hearing mixed messages about what to expect. First National Real Estate recently conducted a survey of their 400+ member network in their 2013 Property Outlook.
“Overall, members expect the market will now continue to gain momentum, going from strength to strength as 2013 progresses,” the survey predicted, however the results are mixed.
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Here is what the respondents are expecting over the first six months of 2013:
National
Same: 34%
Improve: 56%
Deteriorate: 10%
- Uncertainty for mining slow down still existing
- High Australian dollar expected to have an impact
- Upgraders and investors expected to be the most active sectors
- Rural property prices expected to be largely flat across the board
Furthermore, 66 per cent of those surveyed expect the market to remain ‘steady’ over the first six months, while 25 per cent expect a rise.
New South Wales
Same: 31%
Improve: 62%
Deteriorate: 7%
- Foreign investors expected to make an impact
- Investors expected to be most active sector
Victoria
Same: 38%
Improve: 62%
Deteriorate: -
- Foreign investors expected to make an impact
- Investors and upgraders expected to be most active sector
Queensland
Same: 35%
Improve: 65%
Deteriorate: N/A
- Investors expected to be most active sector
South Australia
Same: 67%
Improve: 33%
Deteriorate: N/A
- First home buyers expected to be most active sector
Tasmania
Same: 25%
Improve: 25%
Deteriorate: 50%
- Ongoing concerns regarding the state’s economy
- 100% said the market has not yet bottomed
- Investors expected to be most active sector
Western Australia
Same: 14%
Improve: 86%
Deteriorate: N/A
- Foreign investors expected to make an impact
- First home buyers expected to be most active sector
“Our members are looking forward to 2013 where the market is expected to build on the momentum already seen over the last six months of 2012,” Mr Ray Ellis, CEO of First National Real Estate, said.
“However, while the market is on the rebound, there is a general consensus the recovery will continue to be slow and gradual.”
