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Sunday, June 30 2024

Regional house prices are expected to hit record highs in almost all parts of Australia in the next 12 months, according to analysis by Domain.

Its FY2025 Price Forecast Report predicts Queensland’s Gold and Sunshine Coasts will achieve the strongest growth and will become the most expensive regional housing markets in Australia.

It predicts the Gold Coast will grow by between 3% and 6% and the Sunshine Coast will grow by between 2% and 5%.

Regional Queensland is predicted to grow by between 2% and 4% and Regional NSW by up to 3%. Regional Victoria is predicted to drop by between 0% and 3%.

Domain Chief of Research and Economics Dr Nicola Powell, says regional house prices in NSW and Queensland would improve the most in large regional towns, such as Tamworth, and satellite towns of the major cities, such as Wollongong and Newcastle.

She says ongoing undersupply will continue to drive the markets. Powell says taxation changes in Victoria impacted that market and investors are looking elsewhere because the capital growth isn’t there.

Posted by: Greg Carroll AT 03:21 pm   |  Permalink   |  Email