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Recovery 'imminent' for property markets

Discussion in 'Property Market Economics' started by BillV, 31st Oct, 2008.

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BillV Well-Known Member

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Here is some more positive news...

The Australian property market is showing signs of recovery, new figures show.

Indicative figures for the September quarter show property values nationally declined by just 0.5 per cent, according to the RP Data-Rismark National Property Values Indices.

In the nine months to September 30, Australian property values have been largely resilient, tapering only 1.4 per cent.

Rismark International managing director Christopher Joye said the disconnect between housing demand and supply will positively impact house prices in the future.

"We need to produce 190,000 homes annually but the supply-side is only currently delivering about 145,000 homes per annum," Mr Joye said.

"Some economists are forecasting that the supply shortage will grow to 200,000 properties by 2010.

"This means that Australian house prices will almost certainly rise over the medium to long-term."
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Recovery 'imminent' for property market - Breaking News - Business - Breaking News
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BillV, 31st Oct, 2008

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