A new report out today forecasts modest growth in national house prices next year, with the country's biggest two markets tipped to fall.
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00:00Nationally, we are expected to see a rise in house prices next year, but not by much,
00:07probably only between 1 and 4 per cent.
00:10And that's because of the falls in those two big markets, expected to average down some
00:16of the stronger gains that we might see in some of the other capital cities.
00:20This is data that's been crunched by SQM Research in its latest Boom and Bust report.
00:26So if we take a look at some of those capital cities where it's likely to boom, well, Perth
00:30leads the charge with house prices expected to increase by up to 19 per cent.
00:37Brisbane and Adelaide are also expected to record double-digit growth and Darwin is also
00:44expected to perform quite strongly too.
00:47But if we take a look at the capital cities that are likely to remain in the doldrums,
00:51well Canberra could see house price falls of up to 6 per cent.
00:56Sydney and Melbourne aren't far behind and well in Hobart it could go either way.
01:01SQM Research says that this is all based on the assumption that we see the RBA cut interest
01:07rates sometime in the middle of next year, also steady population growth as well as no
01:13surges in inflation.
01:16And SQM Research says that if we do see that RBA rate cut around mid-2025, then it's expected
01:24to really increase consumer sentiment in the two big markets of Sydney and Melbourne and
01:30that should help stabilise some of those expected price falls.