Property Price Predictions: A look ahead to the property market in 2016Property ownership continues to be a popular concept amongst Australians; be it for personal occupation or investment.

With 2015 coming to a close the many people will be looking towards the new year to enter the property market, but which way will the market move in 2016?

There are many external factors that can affect housing prices, and today we have a look at some of these with a view ahead to 2016.

Australia’s Economic Growth

Economic growth is at the heart of every country around the world, and it is no doubt needed to produce favourable personal and business circumstances.

Currently growth sits at around the 2% figure, with forecasts for next year ranging anywhere between 2.5% and 3.9%

Whatever the true amount turns out to be, anything that improves on current circumstances would have to be considered a positive for the Australian housing market.


People in jobs and the property market go hand in hand, and as such national employment is always of interest.

There is some growth in this area, which is a positive for home buyers and sellers, and further improvement is hoped for in 2016.

Interest Rates

The Reserve Bank of Australia, which sets Australia’s official cash rate, currently has the cash rate set at 2%.

Most analysts believe that this figure will stay in place for the rest of 2015, and that the official rate will likely stay close to it for the whole of 2016.

Stability is good for the housing market, as it leads to people being able to make important financial decisions, such as buying a home, with some confidence.

With Australia’s predicted economic conditions likely to remain stable and largely similar through the upcoming year, existing conditions in the local housing market will potentially remain the same also.

Property prices should remain stable and consistent during 2016, and growth is likely to be steady rather than spectacular.

If you would like to discuss the property market in the Blacktown City area, the team from Hilton Parkes Real Estate are experienced local agents who are happy to meet with you at your earliest convenience.