MARKET TRENDS House Prices – Next Six Months Movements in house prices are expected to be mainly within the vicinity of 1 to 5 per cent, but the majority of survey respondents anticipate them to be less than 1 per cent. Small pockets of Victoria, South Australia and New South Wales/Australian Capital Territory may experience drops of around 10 per cent. National
WA
VIC
TAS
QLD
SA NSW/ACT
Flat
56%
50%
50%
92%
47%
86%
55%
Downwards
28%
17%
50%
–
27%
14%
23%
Upwards
16%
33%
–
–
26%
–
22%
Tasmanian members all believe house prices will remain steady.
Apartment Prices – Next Six Months Apartment/strata property prices in the coming six months are expected to remain relatively flat although there could be some falls experienced. A small portion of the membership anticipates prices for this segment to rise. Movements for apartment/strata property prices are expected, in the main, to be below 1 per cent although some members say there is a possibility they could move as much as 5 per cent. A very small portion of the membership indicates price movements in the area of 10 per cent. National
WA
VIC
TAS
QLD
SA NSW/ACT
Flat
55%
34%
56%
87%
42%
71%
60%
Downwards
32%
33%
38%
–
42%
29%
20%
Upwards
14%
33%
6%
–
16%
–
20%
LAND PRICES According to the survey, most of our members expect land prices to remain flat, with some predictions for prices to head upwards, and some downwards. Any movements in land prices are expected to be mainly less than 5 per cent with some saying they may be as much as 10 per cent and a minority predicting movements of between 10 per cent and 20 per cent.
08
FIRST NATIONAL REAL ESTATE 2012 PROPERTY MARKET OUTLOOK