Another year brings another flood of predictions on how the markets are going to perform in the upcoming months. According to this article in major Australian newspapers Sydney Morning Herald the real estate prices in Australia are getting nowhere fast and are predicted to continue on slight decrease from previous year. This is apparently due to the lower demand and decrease in home loan affordability.

As in any market however, there are to be expected certain areas which may do better than the average. In 2007 Australia, the real estate values which are, according to the article, most likely to outperform the rest are Darwin, NT and Southeast Queensland.

Here are some statistical data as provided by Commonwealth Bank of Australia (the biggest home loan lender in the country). The table is showing the median house prices in all Australian states based on records from November 2006
figures are in AU$)

*Too few properties are included in this result to make it statistically reliable.

For more detailed data search at Commonwealth Bank Property Value Guide where you should find median prices by month for any suburb in Australia.

Let’s re-attend to this table in about 12 months time to see how much predictions such as this are really worth.

This entry was posted on Thursday, January 4th, 2007 at 10:03 pm and is filed under My View, Real Estate. You can follow any responses to this entry through the RSS feed. You can leave a response, or trackback from your own site.