10 Oct 2013
Keep watching this developing trend in Australian housing market
FXstreet.com (Barcelona) - NAB's Quarterly Australian Residential Property Survey for Q3 2013 saw housing market sentiment strengthened in Q3 as house price growth was observed in all states (bar WA).
As NAB notes: "The Survey is pointing to faster price growth ahead (led by NSW and Queensland), but gains are expected to be relatively modest. Demand has improved for all types of new and established property. Property professionals continue to cite tight credit and employment security as the key obstacles to buying property."
Looking forward, NAB explains "national demand for all types of new property is expected to strengthen slightly over the next year
(except middle/outer ring houses and inner city low rise apartments which are unchanged). Demand is expected to remain strongest in NSW for all types of new property, although property professionals in NSW see slightly weaker demand for middle/outer ring houses and inner city low rise."
Last week, an article from Westpac referring to early sings of the New Zealand property bubble moving into Australia was published, noting: "the last few months have seen a significant shift in Australia's housing markets with a surge in auction activity and signs of a quickening in price growth."
As NAB notes: "The Survey is pointing to faster price growth ahead (led by NSW and Queensland), but gains are expected to be relatively modest. Demand has improved for all types of new and established property. Property professionals continue to cite tight credit and employment security as the key obstacles to buying property."
Looking forward, NAB explains "national demand for all types of new property is expected to strengthen slightly over the next year
(except middle/outer ring houses and inner city low rise apartments which are unchanged). Demand is expected to remain strongest in NSW for all types of new property, although property professionals in NSW see slightly weaker demand for middle/outer ring houses and inner city low rise."
Last week, an article from Westpac referring to early sings of the New Zealand property bubble moving into Australia was published, noting: "the last few months have seen a significant shift in Australia's housing markets with a surge in auction activity and signs of a quickening in price growth."