Positive sentiment in Australia's property market during the fourth quarter of 2013 may continue in the future as house price are expected to grow over the next year or two, according to the latest Quarterly Australian Residential Property Survey from National Australia Bank.
The report was released on February 13 and provides useful insights for owners of investment and home real estate in St George.
Property investors in the area will appreciate that the rental market is expected to be the strongest in NSW and Victoria.
Local investors were "more active" during 2013's final quarter, particularly in NSW, according to the report.
It's predicted that more foreign buyers will enter the Australian property market, with a 7 per cent increase predicted on the previous year.
Existing homeowners tended to favour established dwellings, while both local and foreign investors preferred to buy new developments.
Housing market sentiment in NSW was the strongest of the entire country, too. The popularity of Sydney and its tight vacancy rates may have contributed to these levels of positivity, particularly for investors of property in St George.
In 2013's final quarter, survey respondents' house price expectations were incredibly positive, coming in at 2.3 per cent – an increase on the previous quarter's 1.9 per cent.
Rental expectations were positive too, with a measure of 1.1 per cent.