Economic researcher Moody’s Analytics has forecast property price growth next year across every Australian capital city except Hobart.
Moody’s national index for home values has fallen for almost two years, but Sydney, Melbourne, Brisbane, Perth, Adelaide, Darwin and Canberra will all see a steady recovery in 2020, according to the Moody’s Analytics report. The Hobart property market, which has been the leader among the capital cities over the past two years, is projected to drop slightly in 2020 and 2021.
House values across Sydney are set for a 3.1% increase next year and a further 4.8% in 2021, with apartment prices to rise slightly higher at 4% and 6% in 2020 and 2021 respectively.
Melbourne will see a 1.3% upswing next year, followed by a healthier 6% in 2021.
“Overall, Greater Melbourne house values are expected to tick up in 2020, with Melbourne-Inner East and Melbourne-North East leading the recovery,” says Moody’s.