Market Trends House prices – Next six months 2013 Flat Downwards Upwards
National
NSW
VIC
QLD
WA
SA/NT
TAS
48%
40%
42%
66%
29%
60%
100%
4%
4%
–
7%
14%
–
–
48%
56%
58%
27%
57%
40%
–
Any price rises will be due to increased consumer confidence, improving market conditions and low supply compared to increasing demand. Overseas economic factors and the upcoming election will serve to put a ceiling on any potential increases.
Apartment prices – Next six months ABS forecasts that within the next 25 years, strata titled apartments are likely to out-rate houses as the number one choice of housing in Australia. National
NSW
VIC
QLD
WA
SA/NT
TAS
Flat
60%
53%
42%
84%
57%
67%
100%
Downwards
15%
12%
25%
8%
14%
22%
–
Upwards
25%
35%
33%
8%
29%
11%
–
The upcoming election and rising body corporate fees are serving to keep price movements at bay, however any increases are expected to result from strong supply and demand ratios, improving affordability of houses compared to rentals and growing consumer confidence. The NSW and Victorian markets appear to be the strongest performing for the coming six months, followed closely behind by WA.
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First National Real Estate | 2013 Property Market Outlook Mid Year Update