Outlook for price growth by region

Sydney

• Median house price $670,000 in June 2013 (4% increase 2012/13).
• Sydney’s residential market is gaining momentum after being weak for the best part of the last decade.
• Total price growth over three years to June 2016 forecast at 19% (5.9% per annum).

Melbourne

• Median house price $545,000 at June 2013 (4% rise for the year).
• Median house price growth in Melbourne is forecast to a minimal 5% over 2013-2016.
• After accounting for inflation, prices are actually forecast to fall by 4% in real terms.

Brisbane

• Median house price $440,000 in June 2013 (2% up for the year – its first annual increase since 2009/10).
• Price growth expected in 2013/14, which will accelerate and remain solid in 2015/16 thanks to first home buyer and investor activity.
• Forecast 17% total rise in median house price 2013-2016 (average 5.2% per annum).

Perth

• Median house price $520,000 at June 2013 (rise of 7% rise in the year).
• Price growth is forecast to begin to tail away through 2015-2016 as resource projects conclude, migration and population growth slows and sentiment dampens.
• House prices forecast to rise by 15% from 2013-2016.