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Property price growth 'should increase'

The price of Australian property should increase in the second half of the year, an expert has predicted.

Growth in Australian property prices will increase during the second half of 2011, an expert has forecasted.

 

 

Dr Andrew Wilson, senior economist at Australian Property Monitors (APM), said that price growth was "subdued" in the first quarter of the year.

 

 

"Although, … early signs are emerging of stabilisation and recovery in most capital cities," he added.

 

 

"Sydney and Canberra should record modest house price growth from mid-year, with Melbourne prices also likely to track marginally upwards over the year," Mr Wilson said.

 

 

He went on to say that the resources boom in Perth should generate a revival in its housing market by the end of the year.

 

 

Mr Wilson predicted that Darwin and Adelaide will record modest house price growth this year.

 

 

Last month, Real Estate Institute of Australia president David Airey appeared on ABC's Business Lateline and said that the price of property in Australia was growing at a slow rate.

 

 

Posted by Ravin Chatlani

- prices, property, Canberra, Sydney, Melbourne, Adelaide

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