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No housing bubble in Australia

14/04/2010

There will be no big price crash in the Australian residential property market because there is no price ‘bubble’ said the director of research at RP Data, Tim Lawless. “Bubble is a word that has been used pretty loosely in relation to Australia’s real estate market since about 2003. Generally I would disagree with using this term,” he said. “

Across Australia’s capital cities, home values have increased by just 6.2 percent per annum over the last five years – a rate of growth that is in line with wages growth which has been 6.0 per cent per annum over the same time frame. “Rather than experience a rapid decline, my view is that home values will continue to show modest growth due to the ongoing under supply of dwellings and rapid population growth that creates demand for housing.”

Source: Real Estate Business



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