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What happened to the markets in November 2017

By Jessica Ridder
Are prices likely to go up or down in the Upper Mountains?
According to data analysis completed by realetste.com.au that took into account sales data collected over the last three years from CoreLogic, the estimated median house prices for the Upper Blue Mountains for the 6 months to the 31st March 2018 are trending upwards.
Look at the table below to see how your suburb could perform over the next 6 months compared to those around you.
Suburb                 %Change predicted
Katoomba               +23.7%
Medlow Bath          +18.3%
Wentworth Falls     +15.0%
Blackheath              +14.3%
Mount Victoria         +12.1%
For a more detailed Market Report of your suburb please call the office on 02 4787 8797 or email jessica.ridder@raywhite.com
What will the National housing market look like in 2018?
In Louis Christopher’s Housing Boom and Bust Report the rate of property price increases will be slower in 2018, predominantly due to a slowdown in the Sydney housing market, which should continue into the first half of the year. Melbourne’s property market will also experience a relatively modest slowdown.
“Our Sydney forecast for 2018 is for a four per cent to eight per cent increase in prices whereby Sydney will record a soft market in the first half of the year, but property prices will start to recover in the second half as the banks will likely increase investment lending once again.
“Offsetting a slowdown in Melbourne and Sydney will be first-year property market recoveries for Perth and Darwin and an ongoing real estate boom in Hobart’s property market, which is set to record the highest level of accelerated price growth of any capital city next year at between 8 per cent to 13 per cent,” Christopher said.
Brisbane’s property market will experience slightly stronger gains than those posted in 2017, with property prices forecast to rise between three per cent to seven per cent. However, the persistent overhang of surplus property listings will hold back property in that city from a faster rate of inflation.
The base case for all capital cities forecasts assumes no changes in interest rates next year, a stable exchange rate and the existing restrictions by APRA on investment lending to remain in place.
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