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House prices to surge in the next 3 years

By Cara Bliss

In the next three years, house prices in Brisbane, Perth and Canberra are expected to surge by the most — while the Sydney market slows to a crawl.

BY BUSINESS REPORTER DAVID CHAU 

Key points:

BIS’s forecast is that Brisbane will see the strongest growth over the next three years, jumping 13 percent to a median of $620,000. If its prediction is correct, this would be a phenomenal improvement. Queensland’s capital city is currently seeing house prices grow by a tepid 1 percent annually.  Its apartment oversupply may be a drag on the market, but the sunshine state is starting to see a boost in interstate migrants — particularly from Sydney — with prospective buyers lured by Brisbane’s comparative affordability.

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