With the dollar down, commodity prices falling, interest rates at record low, governments flagging rule changes and an unprecedented level of Chinese buyer-fuel…
One thing that's widely agreed is that prices are relatively high, especially in pockets of Sydney and Melbourne.
Of the eight prime global cities monitored by Knight Frank, only two – New York and Sydney – will experience price gains in 2015.
Australian capital city house prices rose almost 8 per cent last year, with Sydney's property market leading the annual gains.
Sydney is tipped to once again outperform all housing markets in 2015 in what will be a more subdued year for property, according to most analysts.
Low interest rates — and forecasts of more cuts in the coming months — look likely to make real estate an attractive investment in 2015.