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Prices To End Year On High

Home prices are tipped to be up by the end of 2023 with PropTrack data predicting national property prices will increase by between 2% and 5%.

It says prices are already up 2.3% for the first six months of the year and it expects almost every capital city (with the exception of Hobart and Darwin) to record positive price growth over the remainder of the year.

Hobart prices are predicted to drop by between 3% and 6% while Darwin prices are tipped to drop by 3%.

Perth is expected to be the strongest growth performer with PropTrack saying its prices should increase between 4% and 7% by the end of the year.

It says Sydney and Adelaide are both likely to increase by between 3% and 6%), and Brisbane will be up by between 1% and 4%.

Melbourne is forecast to change between a 1% fall and a 2% increase.

Cameron Kusher of PropTrack says limited supply will drive price growth.


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