Regional markets in NSW, Victoria and Queensland are showing signs of catching up to the strong performance of their capital city neighbours, according to a new report.
CoreLogic RP Data’s Quarterly Regional Property Report shows that property prices in many areas are rising solidly, thanks to the ripple effect from robust activity in the capital city markets and the current low interest rate environment.
CoreLogic researcher Cameron Kusher said the prospect for regional markets in the East Coast is good, however, rising levels of unemployment remains a challenge. He points out that areas with less diversified economies would suffer the most.
Nevertheless, with mortgage rates tipped to stay low and the Aussie dollar set to fall, property is becoming attractive to buyers, which Kusher believe would trigger further growth in the future. Below are the highlights of the recent CoreLogic RP Data analysis:
