Property Predictions for 2016


Perth

Perth house prices are likely to fall by three to five per cent this year as the mining dependent economy teeters on the verge of recession.

National Australia Bank (NAB) expects the residential property sector to remain weak in Western Australia as lower commodities prices force companies to shed staff and population growth slows.

Sydney

Sydney’s property prices grew 16 per cent over 2015, but the market is expected to slump to just 4 per cent growth next year, new forecasts show. It’s expected to slow dramatically as investors continue their exodus from the market, according to Domain Group’s State of the Market Report.


Adelaide

The predicted median house price growth of 1.9% in 2016, before rising oversupply and slower economic activity halt price growth in 2017 and induce a 1.1% decline in 2017/18. Units are forecast to perform at a similarly dismal rate, with negative growth of 1% predicted by June 2018.

 

Brisbane

Domain’s new housing prospect report for 2016 reveals the market is expected to rise only slightly, with growth predicted to remain about 3 to 4 per cent.

Brisbane suburbs have experienced healthy growth over the past year. Photo: Michelle Smith

While a solid 4 per cent growth in 2016 would be an improvement on this year’s expected 3 to 4 per cent, the  gains will likely come from Brisbane’s outer suburbs.

Melbourne

According to SQM’s Louis Christopher predicts Melbourne dwelling prices booming by 10–15%. Melbourne’s expected to outperform Sydney by some distance.

Australian property prices will rise next year at their slowest pace in three years and Melbourne will overtake Sydney as the best performing capital city market.

WISE BLOGBuyers Agent Twitter Buyers agent linked in  Facebook Wise Real Estate Advice buyer's agent google plus imageemail Buyer's Advocate Melbroune You Tube Buyers Agent blog

  • +61 3 9982 4545





    Your Name *
    Your Email *
    Phone Number
    Your Message
  • Wise Real Estate Advice

    Wise Real Estate Advice
    Reviewed from Google

    5 out of 5 stars

    Hari Krishnan
    Hari Krishnan

    5 out of 5 stars

    posted 1 month ago

    I found Mark through Google!!!.
    Since my first meeting I felt so confident in Mark's ability and experience in being able to deliver a great result. I was very much impressed with Mark's service as he made the whole process easier and stress free!!!!

    I am really happy because I bought exactly what I was looking for and it was well under my top budget. Most importantly We did it within few weeks.

    Since day one Mark was very pro-active.

     Mark emailed multiple properties every week within my search parameters and wish list.
     Mark allowed me to be involved as much as I wished.
     Mark inspected the properties I liked.
     Mark explained the positives and negatives about each property.
     Mark held a pre-auction meeting and attended the auction
     Mark's strategies and suggestions like where he’ll stand during the auction, how he’ll handle the negotiation etc. etc. and through to the final shaking of hands inside the house all played out in a positive way.

    Thank you Mark for all your work in getting me the right house for the right price!

    I highly recommend Mark for everybody who wants to find a good place to live or invest.

    Many, many, many thanks!

    Ken Stewart
    Ken Stewart

    5 out of 5 stars

    posted 5 months ago

    Mark was personally recommended to me as someone who could be of real help in appraising my property of interest and subsequently representing me at auction.
    He made time to meet for an initial chat over coffee. I was immediately impressed and relaxed with his easy and honest nature, as well as his willingness to listen to my needs.
    A genuinely nice bloke... well experienced in the RE scene, totally committed to helping his clients.... all in all, a very worthwhile experience.