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House prices tipped to rise in mining states

Property experts are predicting a rise in house prices in mining states.

Property experts are expecting to see an increase in house prices in states with strong connections to the mining sector, according to the latest report by ANZ and the Property Council of Australia.




The survey of 3,000 property industry professionals revealed that house prices in the Northern Territory are being tipped to rise by 72 per cent in the first quarter of the year, while those in Western Australia are expected to go up by around 55 per cent, Property Observer reports.




Smaller increases are also expected in other states such as Queensland and New South Wales, although experts are predicting a fall in house prices in the Australian Capital Territory, South Australia and Tasmania.




Across the country as a whole, prices are set to go up by a single-digit percentage amount in the March quarter, bucking a trend of decreased expectations from property experts in four of the past five quarters.



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