I genuinely look forward to October each year when the QBE Australian Housing Outlook report is released.
Rarely will you come across ‘experts’ that will go out on a limb to forecast property prices. BIS Oxford Economics have been doing just that for over 10 years.
There is so much valuable information in this report that I struggled to find just one item to share with you. In the end, the table below won out.
After 25 years of listening to and reading property research, the bottom row of this table, affordability, is probably the most effective predictor of house price growth (plus unemployment levels).
As you can see, Sydney has suffered a pretty big drop in unit and house prices, however, you can also see that house prices are only predicted to drop by 1.2% over 3 years.
Brisbane is pretty interesting too. The median house price is estimated to rise by 11.30% over three years. With a median house price that is almost 50% of Sydney’s, this could be a good investment opportunity.
I strongly recommend that you make the time to read through this whole report. Knowledge is power, especially when you have access to quality information like this report.
Please give me a call if you have any questions at all. 0414255530.