Perth and Brisbane will be 2012’s best performing capital cities, and both have the potential to record double digit median price growth next year, it has been claimed.
Darwin, too, could reach double digit territory, says Australian Property Monitors’ latest State of the Market Report, as capital city markets with direct exposure to the resources sector “can be expected to record significant growth in house prices over the year”.
Melbourne, Adelaide and Hobart are set to struggle, says the report, with each of these three cities predicted to see median price growth of 0-3%.
Canberra and Sydney will remain in line with the national average of 3-5%, predict APM, while Brisbane, Perth and Darwin will lead the way with growth of 5-10% each.
“2012 will provide mixed outcomes for housing markets, with some capitals set to revive strongly while others will remain in the doldrums despite the continued prospect of strong economic growth in Australia,” says the report.
Brisbane townhouses soar in popularity
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