The forecasts were published in the Q3 NAB Residential Property Survey, which also forecast continued growth for Brisbane.
Furthermore, Cairns, Coomera, the Gold Coast, and the Sunshine Coast, notably Mooloolaba, were tipped to enjoy growth above the state average over the next 12 months.
So it’s probably not surprising that the overall sentiment of property experts in Queensland has seen a sharp gain with the NAB Residential Property Index leaping from 16 this quarter to a forecast 48 next year.
What is the property index?
Well it’s a fancy way of reading ‘the vibe’ of the market. They ask a bunch of property people their views on the market conditions and report the collective wisdom in price and rental growth forecasts.
Around 300 respondents participated in the Q3 2017 Survey including real estate agents/managers, property developers, asset/fund managers and owners/investors.
While Queenslanders may be the most bullish, Victoria’s property people were the most optimistic clocking up a Property Index score of 74, while New South Wales clocked in at 51.