Source: Courier Mail, 13th October
The NAB Quarterly Australian Residential Property Survey for the September Quarter showed expectations were on the up across most jurisdictions, according to NAB Chief Economist Alan Oster.
“The NAB Residential Property Survey shows an improvement in market sentiment across most states last quarter, but we continue to see market conditions that vary across different locations,” Mr Oster said.
“The momentum is clearly with Victoria, while New South Wales is experiencing something of a slowdown,” he said.
According to the report, the NAB Residential Property Index rose 6 points nationally to +20 during the quarter.
The report said sentiment improved in all states except NSW, while Queensland saw a four point rise to +16.
Despite the sentiment, NAB is forecasting a slowdown in national price growth over the coming year.
NAB’s Hedonic House Price Forecast for Brisbane predicts growth of 1.9 per cent in 2018, softening to 1.2 per cent in 2019.
“Melbourne and Hobart are currently experiencing solid growth in prices; Sydney is cooling and we expect Brisbane and Adelaide will cool,” Mr Oster said.