NAB reveals property professionals’ top suburb picks for 2019

author-avatar By on April 12,2019
NAB reveals property professionals’ top suburb picks for 2019

Photo by Dhyamis Kleber from Pexels

NAB has released its residential property report with a number of popular suburbs tipped to see above average price growth in 2019.

NAB’s Residential Property Report Survey of property professionals for Q1 2019 shows longer-term confidence in the property market has improved, suggesting housing market conditions may start improving moving into 2021.

Confidence levels are the highest in South Australia and the Northern Territory, with the best prospects for house price growth in the country.

Western Australia is still tipped by property professionals to lead the country for house price growth in two years time. Armadale, Gosnells and Scarborough are the regions tipped to lead the way for above average price growth.

Source: NAB
graph of suburbs with growth

In New South Wales, it’s Bondi, Newcastle and Sydney, while Noble Park and Werribee are the suburbs to watch in Victoria.

The Sunshine Coast, Tugun and Windsor are the Queensland suburbs most likely to see above average price growth this year.

Hobart is also expected to see good growth, with property prices there increasing by 6% over the past year.

Property falls in Sydney and Melbourne larger than expected

It comes after the bank revised down its predictions for residential property price falls in Australia’s two biggest cities, saying the fall in values since the start of last year has exceeded its forecasts.

“We expect peak to trough declines of 20% in Sydney, 15% in Melbourne, and a weaker outlook across the other capitals,” NAB Group Chief Economist Alan Oster said.

“Overall, we expect some further price declines in 2019, before leveling out in 2020. We expect the weakness to be driven by ongoing declines in Sydney and Melbourne.”

A Moody’s Analytics report released earlier this week also forecast house prices to drop this year before staging a modest recovery in 2020.

The report said the current downturn could be further exacerbated by Labor’s proposed changes to negative gearing and further tightening in lending restrictions.

Property industry unites to fight negative gearing crackdown

In response, the Real Estate Institute of Australia (REIA) have declared war on Bill Shorten’s negative gearing overhaul, and will launch a four-week Federal Election campaign using customer databases to target buyers, sellers, landholders and tenants in key marginals seats.

The industry-backed campaign will harness social media platforms to promote key-attack lines against the Labor policy, arguing it will reduce property prices in a cooling market and pose a danger to the economy.

“REIA is concerned about the adverse economic impacts the policy would have, particularly during a property market downturn. The policy, if adapted, will have negative impacts on mum and dad investors, home owners, renters, the construction industry, state governments and the economy,” REIA President Adrian Kelly said.


Latest Articles

author-avatar
Emma joined Savings.com.au as a Finance Journalist in 2019. She is a journalist with more than five years experience across print, broadcast and digital media, with previous stints at Style Magazines, 4ZZZ radio, and as editor of The Real Estate Conversation. She's most passionate about improving the financial literacy of young women and millennials by writing about complex financial topics in a way that's easy for the average Joe (or Jill) to understand. When she's not writing about finance she's watching Greys Anatomy (again).

Collections:

Get free insights & tips monthly

By subscribing you agree to the Savings Privacy Policy

Loading data please wait...

{{returnData.productName}}

Overview

Current Rate

{{returnData.currentRate | percentage:2}}

Comparison Rate*

{{returnData.comparisonRate | percentage:2}}

Rate Type

{{returnData.rateType}}

Advertised Rate

{{returnData.advertisedInterestRate}}

Comparison Rate*

{{returnData.comparisonRate}}

Monthly Repayment

{{returnData.monthlyRepayment}}

Interest Type

{{returnData.interestType}}

Total Interest Rate

{{returnData.totalInterestRate | percentage:2}}

Base Interest Rate

{{returnData.baseInterestRate | percentage:2}}

Bonus Interest Rate

{{returnData.bonusInterestRate | percentage:2}}

Total Interest Rate

{{returnData.totalInterestRate | percentage:2}}

Introductory Rate

{{returnData.introductoryRate | percentage:2}}

Introductory Term

{{returnData.introductoryTerm}}

Base Interest Rate

{{returnData.baseInterestRate | percentage:2}}

Term

{{returnData.term}}

Advertised Interest Rate

{{returnData.advertisedInterestRate | percentage:2}}

Interest Frequency

{{returnData.interestFrequency}}


Fees and Features

Ongoing Annualised Fee

{{returnData.annualFee}}

Upfront Fee

{{returnData.upfrontFee}}

Offset Account

Redraw

Principal & Interest

Interest Only

N/A{{returnData.interestOnly}}

Max loan to value ratio (LVR)

{{returnData.maxLVR | percentage:0}}

Lump sum repayments

N/A

Additional repayments

Maximum Loan Term

{{returnData.maximumLoanTerm}}

Upfront Fee

${{returnData.upfrontFee}}

Ongoing Monthly Fee

{{returnData.ongoingFees}}

Early Repayment Fee Applies

N/A

Vehicle Types

{{returnData.vehicleType}}

Maximum Vehicle Age

{{returnData.maximumVehicleAge}}

Pre Approval Available

N/A

Online Application

N/A

Account Keeping Fee

{{returnData.accountKeepingFee}}

Minimum Monthly Deposit

{{returnData.minMonthlyDeposit}}

Linked Account Required

N/A

Interest Calculated

{{returnData.interestCalculated}}

Interest Paid

{{returnData.interestPaid}}

Online Application

N/A

ATM

N/A

EFTPOS

N/A

Account Keeping Fee

{{returnData.accountKeepingFee}}

Minimum Monthly Deposit

{{returnData.minMonthlyDeposit}}

Linked Account Required

N/A

Interest Calculated

{{returnData.interestCalculated}}

Interest Paid

{{returnData.interestPaid}}

Online Application

N/A

ATM

N/A

EFTPOS

N/A

Minimum Deposit

{{returnData.minDeposit | currency : '$' : 0}}

Upfront Fees

{{returnData.upfrontFee | currency : '$' : 0}}

Annual Fees

{{returnData.annualFee | currency : '$' : 0}}

Notice Period to Withdraw

{{returnData.noticePeriodToWithdraw}}

Online Application

N/A

Automatic Rollover

N/A

Maturity Alert

N/A