There won’t be plunging property prices in Australia any time soon, say leading local economists, who point out Australia’s fast-growing population will spare this country the falls seen in Britain and the United States.
While British house prices have fallen 22 per cent in the last year, Australian house prices have fallen by 1.4 per cent according to the Australian Bureau of Statistics.

AMP Capital Investors chief economist Shane Oliver – who says Australian housing is expensive by global standards and predicted property price falls – says there is a shortage of homes in tis country.
“The bottom line is that unless Australia has a major economic downturn it’s very hard to see the collapse in house prices that some people are worried about,” he says.

CommSec economist Craig James agrees, saying supply and demand in Australia will underpin property price growth – but some localities could fare worst than others.
BIS Shrapnel is still predicting that Sydney, Melbourne and Adelaide will have prices ise by 19%, with Newcastle the strongest of any regional area through 2012 at 22%.

Do your research! 

onthehouse.com.au offers property sales data for you to do your property research.

• Check out Listings and Latest Sales Prices in your area for FREE!
• Sign up for our Premium Reports to do some in-depth research on historical property sales.

Share This Page: