Investors weighing the pros and cons of buying property in Carlton should know that a recent report from Fitch Ratings makes the case that Australian home values are set to increase even further during 2014, particularly in the Sydney region.
The Global Housing and Mortgage Outlook report shows that the Australian housing market will be supported by continued economic growth. This includes affordability helped along by interest rate cuts from the Reserve Bank of Australia (RBA) from 2011 to 2013, as well as possible undersupply.
This led Fitch Ratings to forecast a national increase of 4 per cent in home prices. While less than the 9.8 per cent increase during the 12-month period ending in December 2013, this still illustrates promising opportunity for investors in real estate in Carlton.
Potential property buyers should also keep in mind that further rises will not be uniform across the country.
"Prices in Sydney, Melbourne and Perth are likely to rise again in 2014, although more slowly than in 2013," Fitch said in a January 21 media release.
Meanwhile, prices in other cities may remain flat.