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Advantage Property Consulting’s Frank Valentic tipped moderated price growth for 2018.Source:Supplied There was no suggestion official interest rates would go up next year, with that more likely to occur in 2019, he said. Mr Valentic tipped 2018 to be “the year of the first-home buyer”, with the revival sparked by the Victorian Government’s stamp duty concessions from July 1 to continue. This would help the city’s apartment market, which was increasingly being targeted by entry-level buyers, he said. Nerida Conisbee expected a “flatter” market next year.Source:Supplied Realestate.com.au chief economist Nerida Conisbee said next year would be “more of a buyer’s market”, with first-home buyers to surge and investors to pull back due to difficulties obtaining finance. She said reduced clearance rates at the end of 2017 suggested 2018’s market would be “flatter”. But the fact the development pipeline had slowed could help prices improve in the unit sector. WBP executive chairman and chief executive Greville Pabst said the state and possible federal elections could play a role in the market.Source:Supplied WBP Group chief executive Greville Pabst expected price gains to “come off” to a rate of 6-9 per cent in 2018. He said the fact a state, and possibly federal election would be held could create uncertainty among investors, and affordability issues would continue to keep young people in the rental market. Real Estate Institute of Victoria president Richard Simpson tipped moderate price growth for the first half of 2018, followed by a boost in spring. Real Estate Institute of Victoria president Richard Simpson tipped population growth to continue to drive demand for housing.Source:Supplied He expected Melbourne’s auction market to wait until March to really kick off, and strong population growth to “continue to drive demand for housing”, notably in affordable areas.
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