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Adelaide Home Prices to Soar

published  First Published: 14/10/2009
Article written by: News Editor: Nigel Brookson
QBE Lenders' Mortgage Insurance's Housing Outlook 2010 2012, released yesterday, forecasts a 23 percent increase in median house price to $440,000 from June 2009 to June 2012.
 
QBE LMI chief executive officer Ian Graham said Adelaide's median house price was the most affordable of the mainland capital cities.
 
"The lower median house price in Adelaide has meant that incentives such as the First Home Owner Grant Boost Scheme have had a larger financial impact on the purchase of a house in Adelaide than other capitals," he said.
 
"Turnover in Adelaide has increased with most of the demand appearing to be concentrated at the more affordable end of the market."
 
Meanwhile, the Australian reports that the sluggish Sydney market, which hasn't seen a rise in median house prices since 2003, will turn in the second-best result in the three years from June 2009 to June 2012, with compound price growth of 21 percent,"Double-digit house price growth is forecast across all capital cities from June 2009 to June 2012, particularly in those markets with positive affordability," according to QBE LMI chief executive Ian Graham.
 
In Melbourne, price rises of 19 percent by mid-2012 are forecast, Darwin 17 percent, Brisbane and Hobart 15 percent, Perth and Canberra 12 percent.

 

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