Property market outlook good say property professionals

The Sydney, Brisbane and Melbourne commercial property markets should return good rental and capital growth over the next two years say 60 per cent of respondents to the 16th Australian Property Directions survey. The Sydney and Melbourne residential markets are seen as being close to the bottom of the cycle while the survey reveals that many investment professionals believe Brisbane could swing down. The Australian Property Institute says ASIC should review the level of information required by mortgage backed investment schemes with a view to requiring schemes to reveal all assumptions that could affect the property in order to avoid Westpoint type collapses.