The latest forecast from Domain predicts a rise of six per cent in house values across all capital cities, and 5 per cent for apartments in the next 12 months.
The biggest price increases are expected in Sydney, followed by Melbourne.
Domain’s chief of research and economics, Nicola Powell, says interest rate cuts are driving growth in both Sydney and Melbourne, with expectations of more to come.
Dr Powell says a rate cutting cycle that increases people’s borrowing capacity generally shows up faster in the big capital cities.
She says this is a very challenging market for first home buyers. #abcbusiness
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