The annual QBE Australian Housing Outlook (2017-2020) report has just been released.
This report, produced by BIS Oxford Economics, has a remarkably accurate track record when it comes to forecasting capital growth rates.
Here is a summary of their median house price predictions.
As you can see, it appears that Sydney’s boom is predicted to run out of steam, while Canberra, Melbourne, Brisbane, Adelaide, Hobart and even Perth are looking at some capital growth over the next three years.
Median unit prices are not predicted to perform as well overall; however, Adelaide, Hobart and Canberra are forecast to experience modest growth.
Although it is said that 90 per cent of property investors buy within five kilometres of their home, these predictions certainly show that a more logical approach might be to follow the growth cycle.