New Real Estate analysis shows that in some areas in Australia, property prices are predicted to double in as little as five years.

Other areas’ home values are expected to drop by hundreds of thousands of dollars during the same period. 

Latest PropTrack modelling has revealed what property prices would be in each city and suburb by 2030 price growth trends from the last 5 years were repeated. While not a forecast- the modelling illustrates some of the probabilities for the market, with the caveat that past performance was not an indicator of coming price changes.

However, should prices continue as they have been, buyers could expect to pay around 61% more by 2030 for a house in Sydney, 68% in Brisbane, 17% in Melbourne, 75% in Adelaide, 66% in Perth, 41% in Hobart, 30% in Darwin and 40% in Canberra.

The data paints a scary picture for prospective homebuyers and highlights again the need for further investment in affordable housing. The current government’s target of 1.2 million homes by mid-2029 is desperately needed, with predictions of this target falling well short.