Expectations about dwelling values over next six months strongest in Perth and Darwin: RP Data survey

Consumers in the Northern Territory, Perth and Sydney are the most optimistic about dwelling values rising over the next six months, according to research by RP Data  and Nine Rewards.

RP Data surveyed 1,030 consumers prior to the May 14 federal budget statement and asked them about their expectations for the housing market over the coming months.

Around 41% of respondents expected home values to rise over the next six months with the majority (52%) expecting a steady market. Only 7% expect dwelling values to fall.

Howerver, sentiment about house prices is decidedly stronger than the national average in the Northern Territory, Perth and Sydney as well as regional WA and Melbourne but weaker in regional Victoria, regional NSW, Brisbane, the ACT and Adelaide.

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"There aren’t any real surprises here… the markets which are generally showing the most buyer activity and value recovery are also the markets where the largest proportion of consumers are expecting values to rise over the coming six and twelve months," says RP Data national research director Tim Lawless.

"The Northern Territory (read Darwin), Perth and Sydney are the markets where the largest proportion of consumers are expecting values to rise over the coming six and twelve months.  Conversely, very few respondents are expecting improving values within Tasmania, regional South Australia and the ACT," he says.