One real estate expert is rubbishing negative claims that the Australian property market will decline over the course of 2011.
The Australian newspaper reports Australian Property Monitors' (APM's) Andrew Wilson as saying that the price of housing will rise in the May quarter.
He even went as far as to suggest that Sydney's property market will experience solid growth for the rest of the year.
"Further growth this year is inevitable, though it won't be big growth," the newspaper reports Mr Wilson as saying.
He went on to say that the latest Real Estate Institute of New South Wales report shows vacancy rates have tightened.
"It's very difficult to rent anything within 10 km of the central business district. Incomes are rising, which means people have the capacity to pay more," Mr Wilson added.
Last month, the Real Estate Institute of Victoria revealed that the greatest price growth over the past five years was achieved by properties between a 10 km and 20 km radius of Melbourne's central business district.
Posted by Craig Francis
The Australian newspaper reports Australian Property Monitors' (APM's) Andrew Wilson as saying that the price of housing will rise in the May quarter.
He even went as far as to suggest that Sydney's property market will experience solid growth for the rest of the year.
"Further growth this year is inevitable, though it won't be big growth," the newspaper reports Mr Wilson as saying.
He went on to say that the latest Real Estate Institute of New South Wales report shows vacancy rates have tightened.
"It's very difficult to rent anything within 10 km of the central business district. Incomes are rising, which means people have the capacity to pay more," Mr Wilson added.
Last month, the Real Estate Institute of Victoria revealed that the greatest price growth over the past five years was achieved by properties between a 10 km and 20 km radius of Melbourne's central business district.
Posted by Craig Francis
