Melbourne property growth has been widely forecast to slow down in 2018 from the previous few years of steep growth but is still expected to have another solid year.
And in amongst the slower growth tipped for this year should be a handful of suburbs that continue to outperform the average.
So what they?
For some perspective, Melbourne house prices are tipped to rise somewhere around the 3-4 per cent mark in 2018 and drop again to around 2-3 per cent in 2019.
That is expected to be better than the nation as a whole and better than Sydney which is tipped to go backwards this year.
The NAB Quarterly Residential Property Survey forecast report has the following suburbs as the hotspots expected to perform ahead of average growth:
Brighton
Clairinda
Melbourne
Melton
Geelong
South Yarra
Toorak
Seaford
Tarneit
Werribee
NAB’s Alan Oster told News.com Melbourne and Hobart look set to be the year’s best property markets, with Brisbane and Adelaide the next best while Perth is stabilizing after a period of price falls.
“Perth is expected to stabilize, marking the beginning of a gradual turnaround for the market, while we expect to see a fall in Sydney prices for the first time since 2011,” he said.
Currently in the market it’s first-home buyers on the increase while foreign buyers are on the decline.
“Clearly, the efforts of policymakers both domestic and offshore to stem the tide of foreign capital entering Australian property markets are bearing fruit,” Mr Oster told News.com.
