Australia housing inflation cools
27 June 2015 by News Desk
House price inflation in Australia is set to slow down in 2016 after a year of spectacular property price rises.
Sydney is currently the fastest-rising market with 10% increase in house prices but in 2016 house price inflation in the city is forecast to fall to 5%. Melbourne will see 6.2% rise in prices this year but in 2016 this will fall to 3.5%.
House prices in Brisbane have risen by 2.2% to date, the third biggest rise in capital city home values in Australia. Overall, average prices in the city are expected to rise by 3% this year.
While prices have been rising, it is still possible to buy a good home in a good area, at a reasonable price.
In Brisbane, the most affordable suburb to buy a home is Russell Island ($222,398) and the Ipswich suburbs of Riverview ($228,673), Leichhardt ($230,900) and Basin Pocket ($231,242). All are within 50kms of the Central Business District.
The most affordable places to buy a unit (apartment) are in Logan City Council where the average price of a unit in Bethania is $150,372.
