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QBE: The Australian dream of home ownership is set to change forever

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QBE Insurance Findings
Australia is entering an era of high-rise apartment buildings as unit prices are expected to fall in most Australian cities, even as house prices are tipped to rise in the country's major cities over the next three years.

QBE Insurance's Housing Outlook 2017-2020 predicted massive surges in house prices in some Australian cities over the next three years,  including Canberra, which could see rises of more than 16%; Melbourne, 10.2%; Brisbane, 7.1%, and Hobart, 10.8%. This trend in the projections is bucked by two cities: Sydney, with the Harbour City's house prices expected to fall by roughly 0.2%, and Darwin, which is expected to see a drop of 1%.

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Apartments, meanwhile, will likely see a decrease in unit prices – 7% for Brisbane, 5% for Melbourne, and 4% for Sydney. QBE said the weakening demand for units is largely due to tighter investor-lending standards im…