{"id":23637,"date":"2020-02-12T12:16:38","date_gmt":"2020-02-11T23:16:38","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=23637"},"modified":"2020-02-12T12:16:43","modified_gmt":"2020-02-11T23:16:43","slug":"the-australian-city-where-house-prices-are-set-to-rise-the-most-this-year","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/the-australian-city-where-house-prices-are-set-to-rise-the-most-this-year\/","title":{"rendered":"The Australian city where house prices are set to rise the most this year"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>PHOTO:  A year ago, major housing markets were in a downturn, with prices falling and home owners hesitant to sell. <\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">House prices in most Australian capital cities are set to hit new records this year as home buyers take advantage of very low interest rates, a new forecast shows.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Sydney house prices are likely to jump 10 per cent to a whopping $1.25 million median by the end of the year,&nbsp;<a href=\"https:\/\/www.domain.com.au\/research\/domains-property-price-forecasts-february-2020-928094\/\" target=\"_blank\" rel=\"noreferrer noopener\"><em>Domain\u2019s Property Price Forecasts \u2013 February 2020<\/em><\/a>&nbsp;show.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This would be the fastest growth of any capital city and take prices to 5 per cent above their previous peak, recorded in June 2017.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Melbourne house prices are expected to gain 8 per cent this year to a record $970,000 and then keep rising to reach a median of $1 million before the end of next year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Records are also tipped to tumble in Brisbane (up 8 per cent in 2020), Canberra (up 4 per cent), Hobart (up 3 per cent) and Adelaide (up 3 per cent).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cPrice growth is likely to be much stronger than I, and almost everyone else thought, even six months ago,\u201d Domain economist Trent Wiltshire said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cPeople thought there would be a rebound, but not this rapid and also perhaps not as widespread.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cIt\u2019s not just a Sydney and Melbourne story.\u201d<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" data-src=\"https:\/\/res.akamaized.net\/domain\/image\/upload\/t_web\/v1581392900\/DM20018_Domain-PriceForecastTables-Feb2020-HOUSE_u4mmcx.png\" alt=\"DM20018_Domain-PriceForecastTables-Feb2020-HOUSE_u4mmcx\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" \/><figcaption>House price forecasts.<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">READ MORE VIA <a href=\"https:\/\/www.domain.com.au\/news\/most-australian-capital-cities-likely-to-set-new-house-price-records-domain-forecasts-928462\/\">DOMAIN<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PHOTO: A year ago, major housing markets were in a<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/the-australian-city-where-house-prices-are-set-to-rise-the-most-this-year\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":22843,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478099031,478101556,478103303,478098535,478099562,478099991,478098579,478100051,478098616,478099136],"class_list":["entry","author-data123nz","post-23637","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-capital-cities","tag-capital-city","tag-domain-house-price-report","tag-house-prices","tag-median-house-price","tag-price-growth","tag-property-market","tag-property-markets","tag-property-prices","tag-sydney-house-prices"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Australian city where house prices are set to rise the most this year - 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