The study published by Corelogic analyzed the highest and highest rate of increase in house prices across Australia in the 12 months to November 2018. Despite the loss of foreign buyers, oversupply of housing stocks and tighter loan conditions, the real estate market has been weak, and the regional housing market has been strengthened with economic and demographic conditions, supporting more than 10 %growth of. There are indications that the real estate market in remote areas where house prices have always stabilized is surpassing the strong performance of large cities, and the median price of houses in some remote areas has increased by 15% in the past year.
Emerging investment trends are more likely to favor properties for sale in remote areas of Tasmania and Victoria. Outside of Australia’s eight state capital cities, both culturally and economically, they are now the same as the suburbs of big cities, but prices in these areas are not too high. The remote areas of Tasmania and Victoria are dominant in the growth rankings, indicating that the real estate market far from the state capital has changed a lot, and housing prices in the state capitals are falling sharply this year. A total of 15 regions have achieved growth of more than 10% nationwide, and 10 of the top 15 regions are located in Tasmania. The southeastern region of Tasmania has achieved the strongest gains in the past year, with residential value increasing by 16.3%.
As the conditions for the growth of home values weaken across Australia, the depreciation of homes in the capital city market is faster. According to analysts, housing prices in Sydney and Melbourne are expected to fall by 15% to 20% from peak to low, which may have a ripple effect on Canberra, Brisbane and Adelaide. This forecast may cause trouble for investors and homeowners. Many people in large cities currently depreciate as much as $1,000 a week, and it may not be stable until early 2020. Kusher said: “Although house prices have fallen sharply this year, especially in Sydney, it is unlikely to continue this rate of decline next year. However, in the next 12 months, house prices in other parts of the country may also have a record annual decline. This is not surprising. “In terms of growth, compared with the capital city housing market, which is expensive and has a weak market, the housing market in remote areas where housing prices are expected to be more affordable will remain relatively good.”