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ANZ Bank (one of Australia's big four) have released their combined housing capital growth forecast for the remainder of 2017 and 2018. The graph below provided by ANZ demonstrates the capital growth in each capital city from 2014 - 2016 and the forecast growth for 2017 and 2018 for houses and units combined.
Whilst the bank is forecasting moderate single-digit growth for the Melbourne and Sydney markets in 2018, ANZ economists Daniel Gradwell and Joanne Masters say "While we expect price growth will slow, there is no suggestion that prices will fall outright. Melbourne and Sydney will continue to be the main drivers of this growth, in line with their expanding populations".
The chart indicates a decline in Brisbane prices, as mentioned, this is combined growth for houses and units, with the forecasted decline due to the oversupply of units in Brisbane's CBD. There are still great opportunities in Brisbane houses that we believe will show capital growth. The forecast for Perth and Darwin indicates the current declines in those cities should plateau and Adelaide, Hobart, and Canberra to continue their existing growth.
Milk Chocolate was founded seven years ago by Richie Ragel and Michael Cleary, to purchase and project manage cosmetic and structural renovations on residential and commercial property in Australia on behalf of our clients, looking for a home or investment property. To see how we can help you get in touch here.
Source: ANZ National Housing Price Forecasts
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