State growth predictions revealed

By Staff Reporter 11 July 2014 | 1 minute read

A new analysis from NAB has identified which property markets will perform the best - and the worst - over coming years.

The Queensland market came out on top, with growth of 3.1 per cent predicted over the next twenty-four months.

Nonetheless, expectations have eased since the first quarter of 2014, when two-year growth of over four per cent was forecast.

Victoria is also tipped for a strong performance in the next two years with capital growth of 2.4 per cent.

Current growth leader, New South Wales, is expected to fall back to growth of just two per cent.

In the rental market, however, New South Wales will surge ahead, with predicted rent increases of 2.4 per cent.

Queensland will also provide solid rental growth of 1.8 per cent in the two-year period.

On the other hand, Western Australia came bottom of the pack in both the rental and sales sectors.

Over the next two years, capital growth in the state is expected to be around 0.9 per cent.

Rental growth, meanwhile, will fall by two per cent in the same timeframe.

These predictions are reflected by confidence measures in each state, with property professionals in Queensland and Victoria reportedly the most positive and those in Western Australia the least.

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Property

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State growth predictions revealed
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