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2015’s hottest suburbs – Published 28 Jan, 2015

2015 hottest suburbs

Brisbane is predicted to take the limelight off Sydney in 2015, according to NAB’s latest Residential Property Survey.

National Australia Bank’s latest Residential Property Survey predicts that 28 suburbs across Australia will see above average price growth this year, with Brisbane and Sydney expected to lead the market. NAB Economics predicted 5.7 per cent capital growth in Brisbane’s house prices compared to Sydney’s 4.1 per cent, Melbourne’s 2.7 per cent, Adelaide’s 2.1 per cent and Perth’s 8.1 per cent.

In Sydney, inner city suburbs Glebe, Newtown, Surry Hills, Sydney and Marrickville made the list, along with Eastwood, Manly and Ryde in the north and Oran Park and Penrith in western Sydney.
In Queensland, Brisbane, the Gold Coast, New Farm, Toowoomba and West End were forecast to see above average price growth.

In Victoria, the suburbs were Essendon, Glen Iris and Ringwood, while Norwood, Parkside and Mile End were the areas to watch in South Australia.

In Western Australia, the suburbs of Belmont, Perth, Bentley and Subiaco made the list, as well as Mandurah, Baldivis and Kelmscott just south of Perth.

“With more signs emerging that the residential housing market is loosing steam, NAB Economics expects average capital city house prices to cool to around four per cent over the year to end-2015 and two per cent over the year to end-2016,” the report stated. “Our assessment of the market remains that house price growth will continue to moderate because of rising unemployment, sluggish household income growth, affordability concerns, cost of living pressures and high levels of household debt.”

Source: The Real Estate Conversation – Jan 28, 2015

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