Market Trends 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. Victoria is the only state where the majority of members say land prices will trend upwards. 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. Land Prices – Next Six Months National
Rental Market Rents are currently growing faster than house prices, driven by a shortage of rental stock. In the first quar ter to March 2011, rents rose on average: • 7.6 per cent in NSW • 6.5 per cent in Victoria • 2.8 per cent in Queensland With tight rental vacancies and ongoing demand for rental accommodation we expect this trend of increasing rents to continue.
First National Real Estate 2011 Property Market Outlook