Senior economist for Australia Property Monitors Dr Andrew Wilson said Darwin, Perth and Brisbane have the best prospects for price growth, while Sydney and Canberra are also expected to achieve reasonable growth in the year.
“Demand for housing will intensify in 2012, particularly in Sydney, Canberra and Perth, which will see housing markets re-energised albeit at different levels,” he said.
“Australia’s economic fundamentals are strong, and are well positioned to weather any downturn in international markets.
“This, coupled with renewed buyer confidence, will be the key to driving prices growth in the new year.
“Nationally, median house prices should recover to rise by 3 to 5 per cent through 2012.”