residential real estate – realestatesource https://www.realestatesource.com.au Commercial and residential property news Sun, 14 Jun 2009 16:07:05 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png residential real estate – realestatesource https://www.realestatesource.com.au 32 32 Worst May Be Over For Australia’s Residential Real Estate Markets https://www.realestatesource.com.au/worst-may-be-over-for-australias-residential-real-estate-markets/ Sun, 14 Jun 2009 16:07:05 +0000 http://realestatesource.com.au/wordpress/worst-may-be-over-for-australias-residential-real-estate-markets.html AUSTRALIA's residential real estate markets are heading into a sustained recovery period, with average values expected to rise between 11 and 19 per cent in all major capitals, according to a new research report.

Sydney, Melbourne and Adelaide will lead the property price rise charge, according to the report, with values expected to increase 19 per cent between 2009 and 2012.

Darwin - currently Australia's second most expensive capital city with a median house price of $470,000, is expected to record the slowest growth, rising just 11 per cent over the same period.

]]> The forecasts are in BIS Shrapnel’s latest Residential Property Prospects, 2009 to 2012.

It says a shortage of housing stock against an anticipated rise in demand, coupled with low interest rates and solid growth in rents, will contribute to a property price upswing, which most home owners should notice in 2010 – 2011, and then especially in 2011 – 2012.

However, the report assumes major banks will not increase interest rates until beyond 2011.

BIS says that while the first home buyer has driven the market this year, real estate markets nationally will see more second home buyers and investors return to the market.

The report forecasts median values in metropolitan Canberra to increase 17 per cent between 2009 – 2012, followed by Brisbane (16 per cent, with the regional markets of Gold Coast and Sunshine Coast to follow), Hobart (15 per cent) and Perth (12 per cent).

The report forecasts median values in metropolitan Brisbane to increase 16 per cent between 2009 – 2012

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