These are the Queensland areas tipped for above average property price growth

first_imgSpringfield, where this home at 15 St Maurice Court, is listed for offers over $350,000 is predicted for above average price growth this year. Picture: experts have revealed their tips for the Queensland areas they believe will achieve above average property price growth this year.The latest NAB Residential Property Survey offers insights from industry experts and NAB economists on where the property market is heading.The industry experts pinpointed, Brisbane, Coomera, Gold Coast, Miami, Mooloolaba, Springfield and the Sunshine Coast as those which would experience above average property price growth in the next 12 months. RECEIVE all the latest Courier-Mail property news direct to your inbox The report found that nationally, housing market sentiment had jumped to a three-year high in the first quarter of 2017.NAB chief economist Alan Oster said the results showed a “very resilient market’’ despite concerns about housing affordability, supply issues and continual warnings of an over correction.He said modest gains in sentiment were recorded in Queensland, but overall confidence levels had lifted.“Confidence improved most in the under performing markets of Queensland and South Australia and the Northern Territory,’’ he said.More from newsMould, age, not enough to stop 17 bidders fighting for this homeless than 1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor6 hours agoCoomera, where this home at 20 Scenic Crescent is listed for $549,000 is tipped for above average price growth this year. Picture:“New South Wales and Victoria also remained very upbeat, but Western Australia continues to languish.’’In light of current conditions NAB Economics has lifted its forecast of national house price growth for 2017. It is now predicting a 7.2 per cent increase compared to its previous forecast of 3.4 per cent.Unit prices are now also tipped to increase nationally by 6.8 per cent, previously NAB Economics had warned it would drop by 0.8 per cent.“But the market is expected to cool from late 2017,’’ the report said.“Resulting in more modest growth of 4.3 per cent for detached houses and -0.4 per cent for units in 2018.’’Mr Oster said capital city house price growth was forecast to be strongest along the eastern seaboard this year, particularly pushed by Sydney and Melbourne.It forecasts that Brisbane house prices will only increase by 1 per cent this year.last_img