South Australia was also given solid odds, while New South Wales and Victoria would likely trail behind.
The predictions come following the release of the Australian Economic and Property Report by PRD research.
It shows Australia’s capital cities rose an average 1 per cent over the 12 months to the end of June.
While that may be modest by Aussie standards it is definitely not the “car crash” scenario some analysts feared following the COVID-19 market shock in March and April.
In fact, the property market has shown its resilience, supported by government initiatives like JobKeeper and HomeBuilder.
While there is a long road to go yet, our progress to date could be cause for cautious optimism according the Real Estate Institute of Australia.
REIA president Adrian Kelly told the Daily Telegraph that low interest rates, a shortage of homes for sale and support from lenders for those who had lost work were all helping Australia’s property market weather the current challenges.
“If we all keep doing the right thing we could get out of this unscathed,” Mr Kelly said.
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