[fusion_builder_container hundred_percent=”no” hundred_percent_height=”no” hundred_percent_height_scroll=”no” hundred_percent_height_center_content=”yes” equal_height_columns=”no” menu_anchor=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” status=”published” publish_date=”” class=”” id=”” background_color=”” background_image=”” background_position=”center center” background_repeat=”no-repeat” fade=”no” background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ video_mp4=”” video_webm=”” video_ogv=”” video_url=”” video_aspect_ratio=”16:9″ video_loop=”yes” video_mute=”yes” video_preview_image=”” border_size=”” border_color=”” border_style=”solid” margin_top=”” margin_bottom=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=””][fusion_builder_row][fusion_builder_column type=”1_1″ layout=”1_1″ spacing=”” center_content=”no” link=”” target=”_self” min_height=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_image_id=”” background_position=”left top” background_repeat=”no-repeat” hover_type=”none” border_size=”0″ border_color=”” border_style=”solid” border_position=”all” border_radius=”” box_shadow=”no” dimension_box_shadow=”” box_shadow_blur=”0″ box_shadow_spread=”0″ box_shadow_color=”” box_shadow_style=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”no”][fusion_text columns=”” column_min_width=”” column_spacing=”” rule_style=”default” rule_size=”” rule_color=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=””]An imbalance between supply and demand is set to spur property price growth of up to 20% in the next few years, according to new research. Insurance group QBE’s Australian Housing Outlook 2019-2022 report forecasts house price growth in all major cities.
According to QBE, Brisbane is set to experience the sharpest rise in house prices (20%) over the three years to 2022, followed by Adelaide (13%), Darwin (7%), Canberra (6.5%), Perth (6%), Sydney (6%), Melbourne (5%) and Hobart (4%).
Unit values are projected to rise sharpest in Darwin (9%), followed by Canberra (7%), Perth (5%), Adelaide (5%), Melbourne (4%), Brisbane (3%) and Hobart (3%).
QBE Lenders’ Mortgage Insurance CEO Phil White says the growth will come in response to a supply and demand imbalance. Building approvals fell 19% in 2018-19 and completions are forecast to fall further by 2020-21 – down 22% on the five-year average.
“That’s well below underlying demand,” he says.[/fusion_text][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]
