Homes for sale in Sydney’s inner west, the northern beaches, the outer west and the Blue Mountains are set to see a jump in prices over the next year.
, I think it’s reasonable that some of the more volatile markets could actually pick back up quite quickly,” Ms Owen said.and Melbourne, over the space of a year or two seems reasonable, given they would be coming off the back of severe declines.
“I think home buyers who put their plans on hold will start coming back into the market once they realise interest rates will not rise anymore,” he said.“We’re expecting to see prices rise for homes closer to the capital cities and in areas where values have fallen the most, such as the northern beaches.”
If the price gains between 2023 and 2024 matched the losses of the past 12 months, the average housing market could see house prices rise by 17 per cent, according to Mr Lardner. “So a 10 per cent price gain is possible for some markets in the next 12 months, but most won’t see any double-digit gains until late 2024,” he said.
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