Good news axe168, I can see you smiling now. 
http://www.smh.com.au/business/house-prices-set-to-jump-20091014-gwm3.html
House prices set to jump
CHRIS ZAPPONE
October 14, 2009 - 12:26PM
House prices may surge about 20 per cent or more in some of Australia's largest cities over the next three years, driven higher by on-going shortages.
Adelaide - previously considered among the more affordable cities - may lead the advances, with prices likely to be 23 per cent higher by June 2012 from a base of June 2009, according to the QBE LMI Housing Outlook.
Sydney prices may jump 21 per cent in that period, while Melbourne prices may be 19 per cent higher, the report said.
The increases are likely even with the expected rebound in interest rates as the economy recovers. The Reserve Bank last week lifted official interest rates from near half-century lows to 3.25 per cent and signalled more rate rises to come.
''While interest rates are forecast to rise over 2010-2012, the outlook for the Australian housing market looks positive,'' said QBE LMI chief Ian Graham.
''The current low interest rates will be the main driver for house price increases, which are expected to accelerate through to 2012, particularly in those markets with positive affordability and continuing undersupply of housing.''
Perth, Canberra lag
The report, prepared by real estate industry research group BIS Shrapnel, predicts Perth and Canberra, which have both seen huge rises in home values, will grow only 12 per cent in that time.
Brisbane can expect a 15 per cent rise, as can those living in Hobart, while Darwin prices may rise 17 per cent.
''Price growth in Perth is forecast to be influenced by a decline in investment in the resource sector after the record levels of recent years,'' said Mr Graham. ''Softer residential demand is also envisaged in Canberra due to weaker employment growth.''
Prices in the Australian housing market have been driven up by a chronic shortage of homes, estimated be about 56,600 in 2009.
The projected price increases will add to huge increases over the past decade.
Based on caculations from data contained in the report, provided by the Real Estate Institute of Australia and BIS Shrapnel, the median house price in Sydney increased by 101 per cent from June 1998 to June 2008.
Over the same 10-year period the median house price in Melbourne more than doubled, rising 116 per cent.
Brisbane values soared 202 per cent while Adelaide's increased 208 per cent during the same ten-year stretch. Perth's rose 211 per cent and Hobart's soared 203 per cent. The median house prices of Canberra increased 191 per cent, while in Darwin they increased 135 per cent.
[email protected]
http://www.smh.com.au/business/house-prices-set-to-jump-20091014-gwm3.html
House prices set to jump
CHRIS ZAPPONE
October 14, 2009 - 12:26PM
House prices may surge about 20 per cent or more in some of Australia's largest cities over the next three years, driven higher by on-going shortages.
Adelaide - previously considered among the more affordable cities - may lead the advances, with prices likely to be 23 per cent higher by June 2012 from a base of June 2009, according to the QBE LMI Housing Outlook.
Sydney prices may jump 21 per cent in that period, while Melbourne prices may be 19 per cent higher, the report said.
The increases are likely even with the expected rebound in interest rates as the economy recovers. The Reserve Bank last week lifted official interest rates from near half-century lows to 3.25 per cent and signalled more rate rises to come.
''While interest rates are forecast to rise over 2010-2012, the outlook for the Australian housing market looks positive,'' said QBE LMI chief Ian Graham.
''The current low interest rates will be the main driver for house price increases, which are expected to accelerate through to 2012, particularly in those markets with positive affordability and continuing undersupply of housing.''
Perth, Canberra lag
The report, prepared by real estate industry research group BIS Shrapnel, predicts Perth and Canberra, which have both seen huge rises in home values, will grow only 12 per cent in that time.
Brisbane can expect a 15 per cent rise, as can those living in Hobart, while Darwin prices may rise 17 per cent.
''Price growth in Perth is forecast to be influenced by a decline in investment in the resource sector after the record levels of recent years,'' said Mr Graham. ''Softer residential demand is also envisaged in Canberra due to weaker employment growth.''
Prices in the Australian housing market have been driven up by a chronic shortage of homes, estimated be about 56,600 in 2009.
The projected price increases will add to huge increases over the past decade.
Based on caculations from data contained in the report, provided by the Real Estate Institute of Australia and BIS Shrapnel, the median house price in Sydney increased by 101 per cent from June 1998 to June 2008.
Over the same 10-year period the median house price in Melbourne more than doubled, rising 116 per cent.
Brisbane values soared 202 per cent while Adelaide's increased 208 per cent during the same ten-year stretch. Perth's rose 211 per cent and Hobart's soared 203 per cent. The median house prices of Canberra increased 191 per cent, while in Darwin they increased 135 per cent.
[email protected]
Sigh, problem is I don't have much $$ to start to play property like you guys. Been only working for 1.5 years here, and I din manage to save much before. Jibai, now regret go back work, should have stayed in Aust after my studies.
I'll call my ex-leader my big daddy... wearing white shirt and underwear again.. cheering for their effective management... Oh, hanging SG national flag with pride.. Hahaha.. returning CPF ? piece of cake !~ Err.. perhaps I'll go for M'sia 2nd Home... I'm spoilt with CHOICES !! hahaha..
