BIS see flat property outlook

Property market analysts BIS Shrapnel said the residential property market was suffering its worst affordability crisis since the late 1980s, and that the market was being propped up by increased lending to owner-occupiers, low unemployment, solid wages growth and high levels of migration. BIS said Brisbane, regional Queensland and some regional NSW centres could expect modest growth in property prices in coming years. BIS said the Melbourne market was “fully valued”.