Based on the NAB Residential Survey released last July 11, 2013, House prices are forecast to rise to 1.4% next year and 2.4% for the next two years. All states are expected to increase over next two years, but the strongest expectations are for Western Australia with 3.3% followed by the South Australia with 2.6%. Among all the states, Perth leads the property price increase and Queensland predicted to be the weakest state with 1.7% house price growth over the next two years.
Despite of the weaker expectation, property markets amidst weaker sentiment because of confidence become weaker also. In line with the stronger outlook and positive expectation for over next two years, sentiment in WA is looking high. Indeed, NAB survey’s view show Australian house prices become more optimistic and will have a strong market.
Residential Property Survey _June 2013_.pdf (261.23 kb)