As a wise man once said, bricks and mortar will always perform, and with statistics from the top Australian institutes, showing predictions such as below, there is gold at the end of the rainbow. Premium Finance Services, believes ensuring that you have the correct mortgage and a diversity of investments to ensure future wealth growth.
BRISBANE’S house prices are forecast to rise 16 per cent over the next three years, as the economy recovers and investors return to the market.
The average Brisbane house price will rise from $391,000 in 2009 to $455,000 in 2012, says BIS Shrapnel’s Residential Property Prospects report.
It predicts that low interest rates, solid growth in rents and housing shortages would lead to a steady but slow recovery of the entire housing market. Brisbane’s growth will lag behind Sydney, Melbourne and Adelaide, which are tipped to rise 19 per cent in that time.
The study found Brisbane’s house market remained healthy until the end of 2007, rising by 26 per cent over the previous 18-month period due to strong population and economic growth.
But rising interest rates and the subsequent economic downturn led to the median house price declining during 2008 and 2009.
BIS Shrapnel study author Angie Zigomanis said much of forecast growth over the next three years would be in the lower end of the market.
“After years of rising interest rates from 2003 to 2008, first home buyers are now in a good position to enter the property market,” Mr Zigomanis said.
“From here, the recovery in housing demand is expected to broaden.”
The study predicts prices on the Gold and Sunshine coasts to rise by 14 per cent by 2012.
Natalie Gregg :: June 15, 2009 12:00am
Premium Finances Services finds the above article a great reflection of the current market circumstances and future growth potential of residential property.
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