Housing market remains positive though it has softened


According to new report from NAB there is sentiment towards the housing market has softened. So over the next two years the returns of properties in Victoria and Queensland will be highest because prices for properties in Western Australia will decrease.

The experts expected that national house prices for quarter will grow by 0.7%.

The experts expect that next two years house process will increase by 1%. While Queensland will be the leader of prices as they are expected to increase by 1.8%, and prices in Victoria will grow by 1.4%.

9cbd526280126215e9f2d168a04c253aThere will be some small changes in New South Wales which increase by 0.9%. At the same time prices in South Australia and Northern Territory which will grow by 0.3%.

For now there are mixed rental expectations that property market in New South Wales, Northern territory/South Australia and Queensland will improve.

According to the official information for the quarter residential index of NAB decreased to +3 from +6 during the first quarter. It remained below the index of its long-term average of +13.

The experts say that they overlook for prices and expect that momentum in the housing market is renewed. Probably the housing market will not be sustained over the long term. The outlook for prices remains uncertain.