Sydney Morning Herald: Predictions in 2012 where house prices may rise
Sydney Today, March 3th, Australian Eastern Time, despite the continued downturn in the housing market, according to the forecast of the "Financial Review Smart Investor" magazine, there are still some suburban housing markets where house prices may rise.
The panic caused by the fall in property value should have surpassed the fall in the value of other assets; your house should be your biggest asset, or it may have been bought by you with debt, and you should have a special feeling for it. So in the face of the turmoil in the real estate market, we should understand how serious the decline in the real estate market is? Which regions saw the biggest decline? In fact, despite the general decline in the housing market last year, housing prices in more than 300 suburbs have increased.
An exclusive study by the "Financial Review Smart Investor" magazine shows that the national house price fell by an average of 3% last year, but the values of houses in the top 100 regions in New South Wales and Victoria have appreciated. Queensland has also seen price increases in more than 50 areas, most of which are suburban.
The situation in some other regions is not so good. There are only 16 areas in Southern Africa where housing prices have risen, 12 in Tasmania, 9 in Western Australia and 7 in the Northern Territory. The main factor for the lack of downturn in suburban housing prices is employment. Those areas where housing prices have risen are mostly close to urban areas or mineral areas with better employment situations.
The Australian Property Supervision Centre, which compiled this data, said that New South Wales has the best prospects for housing growth this year, and housing prices in nearly half of the areas are likely to rise. There should still be 24 areas where housing prices in Queensland will rise, and only 11 areas are predicted to rise in Victoria and Asia.
In fact, in 2011, 601 of the top 304 regions in the country had price increases, but in 2012, only 103 may be able to maintain the upward trend. In New South Wales, the top 100 regions all rose at least 6.5%. The areas where house prices were strong last year and predicted to continue to rise this year include Darling Point (up 2011% in 25), Mardi up 17%), Cremorne Point (up 15%) %), Hillsdale (up 15%, Smithfield (up 12%), Five Dock (up 11%), Condell Park (up 10%) and North Rocks (up 8%).
Victoria’s overall market outlook is poor, but there are also several regions that may rise, including McCrae (up 2011% in 19), Kialla and Maryborough (up 14%), Portland (up 12%), Horsham, Carrum Downs and Murrumbeena (up 8%) and Ivanhoe (up 7%).
If you want to get cash income, then some of the top-ranked areas in Queensland should be good choices. Last year, rent income in these areas rose by 5%, and the same increase may occur this year. As West Gladstone is located in an important natural gas location, house prices rose by 16% last year, and this year may also rise by about 5%.
In addition to the auction clearance rate, you can also focus on two pieces of information to locate the housing market in your area, one is "time in the market" and the other is the average discount. "Time in the market" refers to the time it takes for a house to go on the market to successfully sold. The "time in the city" in the Northern Territory is 5 months, in Victoria it is 87 days, and in New South Wales it is 79 days. You can also get the average discount information from the local newspapers. It is 5% for the first special area, 7% for New South Wales, 8% for Victoria, and around 10% for Queensland and Tasmania.
If your house is not necessary for immediate sale, then you should not sell it; although some areas perform well, the real estate market in most areas is actually a buyer's market. (Wendy)