Adding to today’s property melange, NAB’s quarterly property professionals survey is out today and shows a small rise in expectations for price growth:
NAB’s Residential Property Index rose to +8 in Q4’12 (+4 in Q3’12). WA (+41) the stand-out state, with Victoria (-15) and SA/NT (-20) negative. National index to climb to +49 points by Q4’13 and +61 points by Q4’14. WA to out-perform by some margin followed by Queensland. Victoria next best market in 2 years with SA/NT weakest.
Not at all unreasonable for 2013 and a confirmation of the recent ANZ survey of a similar stripe. 2014 worries me, though.
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
