There’s no doubt 2020 has got off to a flying start, and now Domain is tipping this growth is just the beginning.
Brisbane is set to see median house price growth of 8 per cent in 2020 and between 7 to 9 per cent in 2021.
Unit holders finally have reason to smile with 6 per cent price growth tipped for 2020 after years of subdued performance as the market absorbed an inner city apartment over supply.
Domain economist Trent Wiltshire said the forecast upswing was in part driven by historic low interest rates.
“It’s also probably feeding off what’s happening in Sydney as that generally spills over into Brisbane and south-east Queensland,” Mr Wiltshire said.
“Brisbane has been pretty sluggish over the past few years and this is going to be the most significant price growth (the city has seen in some time).
“The forecasts are also showing a population growth of 2 per cent in Brisbane … and this has picked up from interstate and overseas.”
Nationally, Brisbane’s forecast 2020 performance places it in equal second with Melbourne, while Sydney is tipped for 10 per cent growth.
Perth is expected to turn around its post mining boom decline and ratchet up 5 per cent growth, followed by Canberra at 4 per cent and Adelaide and Hobart are both tipped to see 3 per cent.
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