House Prices to Increase Another 5 Percent by Year’s End: KPMG

The growth of Australian property prices is showing no sign of slowing down, with KPMG forecasting prices to increase another 5 percent before the end of year. It comes after the country’s median property price in the capital cities reached a record high of $851,000 (US$522,000) in May, according to the PropTrack home price index. While KPMG expects a rise of 5.3 percent across capital cities and 4.5 percent across the country by December, it noted the disparity in growth between markets. Houses and units in Perth will see the most rapid rise in values at up to 10 percent, while Darwin is set for more modest growth under 1.7 percent....