Blue Chip Mortgages Port Macquarie Finance

SPRING PREDICTIONS

Spring Predictions

As the warmer weather approaches, we also anticipate the market to heat up again this Spring!

What does this mean?

Once again, property in our capital cities has been performing at different rates (see table below).

  • Melbourne has emerged as the hottest real estate market, following closely by Canberra and Sydney. Property prices in Melbourne have jumped 15.9% in the past year!
  • Hobart’s property prices are continuing to grow at 6.5%, while Brisbane and Adelaide’s growth is only just ahead of consumer price inflation.
  • Perth and Darwin property prices have gone backward 2.1% in the past year – which is an improvement as compared to previous year’s performance.

What can we expect to see?

Supply should start to increase – We have been through a period of relatively low supply with many buyers in the market. This should all change in the months of October and November where should see supply start to increase.

Interest rates – Industry experts are predicting that the cash rate will remain on hold for the rest of the year

First Home Buyers re-emerging – There has been some evidence of first home buyer stamp duty concessions boosting the property market in NSW and Victoria.