The New Year has ushered in what looks to be a mixed outcome for housing markets, with some of 2011’s worst performing capital cities set for a recovery just as other markets weaken.
Australian Property Monitors’ latest State of the Market report expects 2012’s best performing capital cities to be Perth and Brisbane as a rebound in the resources trade breathes new life into those markets.
Both markets have the potential to record double digit growth in median prices, according to the APM report, while the prospects for Darwin look good too with the city also promising possible double digit growth over the year.
Melbourne, Adelaide and Hobart are expected to have flat to lacklustre media price growth of 0-3% and will struggle, according to the report. In Canberra and Sydney, APM expects growth to remain in line with the national average of 3-5%.
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