Where are property values predicted to grow next year?,名佳澳洲房产咨询微信公众号文章

HOUSE prices are predicted to continue to grow in most capital cities next year although in some markets the pace of growth will slow.

The latest National Australia Bank and CoreLogic RP DataAustralian Housing Market Report, tips growth will cool a little toward the end of this year, but there will still be an annual increase recorded of 6.4 per cent by the end of 2015.

Sydney is expected to be the strongest performer by the end of the year with values up by 10 per cent, followed by Melbourne, up 6.2 per cent and Brisbane, 3 per cent.

Growth in values in Adelaide will be a minimal 0.4 per cent and in Perth it will have dropped by 2.5 per cent.

Chief Economist at NAB Group Economics Alan Oster expects national average house price growth in the majority of capital cities in 2016.

But he said the pace of growth would be slower in most capital cities and nationally it would equate to about 3.8 per cent in 2016.

Mr Oster said rising unemployment was what would have a big impact on property values next year, in addition to low income growth and cost of living pressures.

“It (unemployment) will actually start to hurt a bit,’’ he said.

He also predicted that interest rates would start to rise by the end of 2016.

“Despite what everybody says when you actually look at affordability relative to where it was in the past, it is not the most unaffordable it has ever been,’’ he said.

“Certainly during the lead up to the global financial crisis and certainly in the late 80s and early 90s it was much less affordable than current levels are.

“If you are young and looking for your first home it’s a bloody lot of money.

“What you have to do is borrow like crazy but in terms of pure affordability, because of rates being so low, it is not the all time record worst.’’

Sydney’s massive price growth is expected to moderate a little next year to a more controlled five per cent, while the Brisbane market will pick up pace and also hit about 5 per cent growth.

Adelaide looks set to have a fairly flat year in terms of price growth with Mr Oster tipping only a 0.5 per cent increase in 2016.

After forecasting drops in values in Perth by the end of this year, Mr Oster said it will be flat next year.

Melbourne price growth is tipped to slow to about 3.5 per cent for 2016.

“Generally what we have got is a story again of a very different market across various states,’’ Mr Oster said.

He was fairly optimistic about the long awaited upswing in the Brisbane market starting to gather some momentum next year.

“We have got that at about the same pace as Sydney (in 2016),’’ he said.

The report revealed that Victoria and Tasmania had Australia’s top five most affordable suburbs for houses, while South Australia, Victoria and New South Wales were the most affordable for units.