Will interest rates rise?
Where is the next hot spot?
Will there be a property market crash?
We’ve taken a look at a few predictions, including from Property Update and Domain, and served up below some of our favourite forecasts for 2018.
- Brisbane will enjoy price growth of between 3 to 6 per cent, finally putting us on par with southern capital cities. While the southern markets have cooled, Brisbane is closing the gap thanks to jobs growth and infrastructure.
- First Home Buyers will make a comeback. This will happen partly due to investors stepping out of the market, but first home buyer incentives, including stamp duty concessions are helping first timers get into the market and low interest rates are making repayments affordable.
- Upgraders will renovate, rather than relocate, to afford stamp duty. This trend may be more noticeable in Sydney and Melbourne where higher median home values are placing stamp duty in the region of $50,000. Imagine how much damage you could do at Bunnings with $50,000!
- Strong population growth will continue with Australia growing by around 172,000 households a year – a 5 per cent in demand.
- Interest rates will and won’t rise. It seems crystal balls differ on the matter of interest rates. But even if the Reserve Bank of Australia keeps rates on hold, banks may lift rates anyway. Regardless, experts seem agreed that it’s worthwhile shopping around with great value home loans still plentiful in the market.
Ready to set your own trends in 2018? View our current listings for sale or talk to us about selling.