Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter

ANZ report highlights new investment hotspot

The property market has turned in a big way, with price expectations and confidence in one Australian market now higher than NSW.

Tasmania now boasts the highest property confidence in Australia, according to the quarterly ANZ/Property Council survey.

The state recorded an index reading of 158.3 for the March 2016 quarter – up from 136.9 in the March 2015 quarter.

Advertisement
Advertisement

NSW placed second on the list, despite falling from 145.7 last year to 142.2 this year.

Victoria jumped from 131.6 to 139.9, while Queensland slipped from 138.6 to 137.6.

The ACT recorded a big increase, from 110.8 to 131.1, while South Australia recorded a smaller increase, from 113.7 to 119.1.

However, Western Australia’s property confidence has fallen off a cliff in the past year, dropping from 112.5 to 69.2.

Meanwhile, NSW and WA are the two states where prices are forecast to fall, according to the survey.

NSW recorded an index reading of -4.1, which means that more survey respondents expect prices to decrease than increase this quarter. The state’s March 2015 reading was 49.2.

WA recorded similar movement, with the index falling from 3.5 in March 2015 to -46.2 in March 2016.

Tasmania has the greatest expectation of price growth, with the index jumping from 41.7 to 65.2. The ACT was also a big mover, climbing from 7.2 to 27.7.

Prices in the other three states will increase at a decreasing rate, if the survey is any guide.

Victoria’s capital value expectations fell from 31.1 to 12.9, Queensland’s fell from 55.1 to 35.3 and South Australia’s fell from 46.1 to 34.1.

[Related: Regional NSW tops property hotspot rankings]

ANZ report highlights new investment hotspot
mortgagebusiness

 

Latest News

The newly instated BOQ CEO has committed to revamping the bank’s home lending business amid a “disappointing” FY19 result. ...

The chairman and CEO of a non-major bank has called for an end to political “point scoring” at the expense of Australia’s banking syst...

The value of home loans taken out by investors has increased 11.6 per cent in the three months ending August 2019, according to a CoreLogic ...

FROM THE WEB
podcast

LATEST PODCAST: Mortgage pricing and product switching

Do you think the mortgage market will see more consolidation this year?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.