8% Nationwide Property Price Increase This Year Says ANZ

ANZ Research have revised their property price prediction up for this year and have noted rapid recovery in the last six months, reports theadviser.com.au.


Low interest rates, confirmation around negative gearing and taxation from a federal government point of view, and easier access to credit are the main drivers of the rebound says the group.


Across the country, 8% price gains in property prices are expected this year, followed by another 4% in 2021. 


“Nationwide, we expect prices to rise solidly in 2020, but we think the pace of monthly gains will moderate, helped by rising new listings,” the research group told the publication. 


Independent property value firm, Herron Todd White show in their latest ‘National Property Clock’ that house prices in Brisbane, Melbourne and Sydney are at the start of the ‘recovery phase.’


HTW executive director valuation and advisory Drew Hendrey told domain.com.au that the property outlook for Brisbane this year is bright. Unit stocks are beginning to be absorbed and intestate migration to the region is being driven by retirees.  


“Brisbane will have a good year off the back of the growth in Sydney and Melbourne,” he said.


Hannah Schuhmann said now is the ideal time to buy in our great city. Infrastructure investment is strong and the recovery phase that we are in now is the step before a ‘rising market.’


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