Despite the property market cooling across most of Australia, the Sunshine State of Queensland is expected to lead the way in growth.
NAB's June quarter residential property survey predicts Brisbane house prices will grow at 1.3 per cent for the remainder of this year and increase ever so slightly to 1.9 percent in 2018.
On a national level, the big four lender has downgraded its house price forecast to 5 per cent in 2017 — compared to the 7.2 per cent previously anticipated — on the back of a sharp deterioration in housing market sentiment.
Unfortunate news for Brisbane’s apartment market, with NAB expecting unit prices to fall 2.2 per cent this year and a further 1.8 per cent in 2018.
But the 260 industry experts surveyed by the bank remain bullish about the outlook for property prices in Queensland.
In the next 12 months, they’re expecting the southeast corner of the state to experience above average growth, and highlighted the areas of Brisbane, Coomera, the Gold Coast, Pimpama, Logan and the Sunshine Coast.