Date: 18 Oct 2009 Comments: 0

House prices are expected to surge by about 20% between now and 2012, according to the Housing Outlook Report from 2010 to 2012 by mortgage insurer QBE Lenders’ Mortgage Insurance (QBE LMI).

Driven higher by on-going shortages QBE LMI chief executive Ian Graham said “Double digit house price growth is forecast across all capital cities from June 2009 to June 2012.” The report researched by BIS Shrapnel has predicted the following house price increases:  

• Adelaide to lead national growth by an amazing 23%

• Sydney to grow by 21%

• Melbourne to increase by 19%

• Brisbane and Hobart to grow by an expected 15%

• Darwin increase by 17%

• Perth and the ACT to be around 12%