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PROPERTY OUTLOOK IS SOLID FOR 2010
Tuesday, January 12, 2010
In the latest ANZ Property Outlook report released recently it suggests that with the first home owner's boost being removed the residential property market will be tested however the shortage and improved investor sentiment will push prices higher.
Economist Alex Joiner said "The remarkable rise in Australian house prices in 2009 has finally silenced the doomsayers. The national median house price has risen by an impressive 10% over the first 10 months of the year buoyed by low interest rates, the first home owner boost (FHOB) and tightening underlying fundamentals,"
"While we still expect a deceleration of prices in 2010 as the FHOB is removed and interest rates are lifted towards 'neutral', recent momentum suggests price gains could be stronger than anticipated."
With underlying demand outstripping supply it appears that we are in for a long period of rising rents and house prices.
- Homehound.com.au
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