Brisbane's house prices set to fall more than 8%: report
BRISBANE'S house prices could fall by more than 8% in the coming year while Sydney's continue to climb and hold their value, according to a new analysis.
The paper under review for the Economic Record found Sydney prices would "continue to rise till the end of 2015 then start plateauing with no anticipated sharp falls", the Age reported.
Melbourne prices will begin falling almost immediately, sliding 9.2 per cent in the year ahead, while Sydney's will be up 6 per cent over the year.
Brisbane's prices will fall 8.1 per cent and Perth's 5.2 per cent, according to the analysis, while those in Adelaide, Hobart and Canberra will continue to climb slowly.
What's your outlook for home prices in Australia?
This poll ended on 21 July 2015.
They will keep climbing
Big downturn is coming
Depends on jobs market
Depends on interest rates
This is not a scientific poll. The results reflect only the opinions of those who chose to participate.
Abbas Valadkhani of Swinburne University, Ronald Ratti from the University of Western Sydney and Greg Costello from Curtin University analysed monthly house price data going back to 1995.
The average Melbourne house price climbed 7.6% in the 12 months to April, hitting an all-time high of $750,130 before slipping 1.6 per cent to $737,870.
The average Sydney price climbed 15.5 per cent to a record high of $951,960, before slipping 0.2 per cent to $949,800.