Queensland is set to lead the country, with Brisbane prices to increase 6.4% this year and 6% in 2015 according to the NAB during the past week. Australian house prices are set to keep growing by around 6% annually in the next 12 to 24 months.
The NAB has said that housing market sentiment lifted again in the December Quarter, supported by faster house price growth in all states except South Australia and the Northern Territory. NAB’s forecast expects average capital city house price gains of about 6% this year.
But the National Australia Bank is predicting only moderate growth for Sydney in 2014.
This is on top the ANZ Bank expecting house prices to rise by as much as 20% before the end of next year, announced during the previous week. The CBA said earlier this month that the housing sector is the “shining light” of the Australian economy.