Housing outlook mixed
Housing outlook mixed
Posted on Thursday, December 05 2013 at 3:26 PM
The housing market outlook for 2014 is expected to bring mixed results, according to the latest report from Australian Property Monitors (APM).
The State
of the Market report considered factors that impacted the market in
2013 and found declining economic activity would moderate house price growth in
the year ahead.
The findings suggested
underperformances from Sydney, Melbourne, Adelaide and Canberra would be offset
by continued strength in Perth and a solid re-emergence of the Queensland markets.
Despite lower interest rates
being “a bonus to mortgage holders the impact on housing markets will be muted
by concerns over job security and continued low income and profit growth” the
report stated.
In addition, the APM report found
the prospect of a modest performance by the stockmarket would also act to subdue
prestige property buyer, particularly in Sydney.
“Within a fluid and uncertain
economic outlook, it’s expected the national median house price will likely
increase by between three and five per cent in 2014 bolstered by solid
early-year contributions from Sydney, Perth, Darwin, Brisbane and Hobart with
more modest inputs from Melbourne, Adelaide and Canberra,” the report states.
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