National researchers BIS Shrapnel have crunched the data to deliver its forecast for Australia’s key housing markets from now until 2019.
Some upside exists in Cairns, where a combination of low interest rates and tightening vacancy rates have contributed to a 19 per cent rise in the median house price in the four years to June 2016.
Strengthening local economic conditions, with a lower Australian dollar contributing to strong growth in local and overseas tourism, are contributing to a more buoyant employment environment.
Consequently, cumulative price growth over the three years to 2018 is expected to be six per cent in Cairns.
BIS Shrapnel found the best prospects for average or median house price growth for the next three years is in Brisbane and Hobart.
Brisbane house prices are predicted to increase by 7% over the three years to 2019.
The Sunshine Coast and Gold Coast are described as moving “in tandem” with Brisbane house prices.
Click here if you’d like to read a copy of BIS Shrapnel’s media release issued today.
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