2012 House Prices?

An article in the Weekend Australian by Jo Studdert, on the 14th-15th January 2012. Leading property experts commented:

The residential property market for 2012 is going to get better, unless they get worse, and some parts of it will just go sideways. They are surprisingly confident of as strong & robust year.

“The best bets for 2012 are Perth followed by Brisbane. Sydney is solid as a rock. But don’t expect much in Melbourne ’til the third or fourth quarter,” says Andrew Wilson, senior economist at research house Australia property Monitors.

“Canberra is a good prospect: there’s always shortage of housing,” he says

Jason Anderson, senior economist at proeprty research and forecasting hosue macroplan, says: ‘Sydney and Perth are the two that will outperform in 2012…”

Wilson says Hobart and Adelaide will”move sideways for most of the year” … and Macroplan’sAnderson believes Adelaide is “in for a bit of a rough time for the next 12 to 18 months.

The Canberra-based real Estate Institute of Australia could’t be more forceful inits position. “Well despite what you’ve heard there is no housing bubble so don’t expect to see housing market crash this year or next year,’ says REIA chief executive Amanda Lynch “property is a sound investment…”.

Wilson belives Darwin will resume its usual growth pattern and strengthen.

‘As for Perth…, its housing market is still 10% below where it was 4 years ago… I expect double-digit price grwoth in perth by the end of the year.”

Not everyone is confident about Brisbane. Brian White, chairman of the Ray White real estate group, describes Brisbane as ‘subdued” and L Janusz Hooker, chief executive of LJ Hooker real estate groupsays “it’s not taking off by any means but after the big price falls there, we might at last be seeing a floor.”

Those lower prices, Hooker says mean ‘there are some great bargains to be had – as tehre on the Gold Coast and, to a  lesser extent the Sunshine coast.’

Kevin seymouir, executive chairman of the Seymour Group, a queensland development and investment company, believes the overall Queensland market will be sluggish except in mining towns such as mackay, Rochampton, townsville & gladstone, where he expects to see strong price growth.

for JPMorgan economist Ben Jarman, a characteristic of the ASustralian market is poor housing stats. These fell 6.8% in the September quarter last year “the fourth significant decline in five quarters”, and he predicts more weknesses to come.

To sum up, with the economy comparatively solid, rates falling and housing stock in short supply, the likelihood is that prices will continue to hold or, more likely, rise.

Author: Dianne Ray

I have almost thirty years in business management in the hospitality, tourism, hospitality, real estate and service industries and in education as a teacher in secondary schools and TAFE Colleges. I was born in the Western District in Victoria, my schooling was in Hamilton and Melbourne and my Tertiary Education was at Melbourne and Monash Universities. My family consists of 4 sons, 3 daughter in laws and 5 grandchildren. Over the last 9 years I made my home in Noosa, Queensland and since February 2011 have moved to Brighton, a suburb of Brisbane and contract to 2nd Avenue Realty as a licensed real estate agent. Selling residential property in the the Sandgate, Shorncliffe, Brighton, Deagon, Bracken Ridge and other areas. I also sell and market boutique accommodation properties, such as Bed & Breakfasts,Self contained Cottages around Australia on http://www.dianneray.com Over my life time I have travelled extensively throughout Australia and numerous times overseas. My interests are obviously travel, all aspects of sport especially golf, outdoor pursuits, fine dining, appreciation of wine and love meeting people. I gained my Bachelor of Education and taught secondary and TAFE students for a number of years and studied for my Masters in Business Administration. I have been self employed for the last 20 years comprising owning and operating an exclusive 4.5 star B&B; established an e-commerce business involving the hospitality and accommodation industry; in selling, marketing, training workshops, relief service and management. I changed my career path ten years ago and concentrated on real estate and business broking. I am a licensed real estate agent in Queensland. My involvement in real estate has been very satisfying and I enjoy the interaction with the buyers and sellers. In my role as a real estate agent, I am able to effectively fulfil the needs of clients and this is my passion, and to use my skills to obtain a win/win situation for everyone involved. I believe in the old traditional values of respect, integrity and genuineness and I am very passionate about helping people with their needs and I focus on listening to and genuinely helping my clients. I am a very honest, natural outgoing person who enjoys life to the fullest “My mission is to live with integrity and compassion and to make a positive difference in the lives of others”