Monday June 27, 2011
 
BIS Shrapnel forecasts a recovery in residential property markets

Despite many capital cities recording a decline in median house prices in the year to March 2011, leading industry analyst and economic forecaster, BIS Shrapnel, is not expecting a property price crash. The company is forecasting steady prices through 2011, with some capital cities even showing moderate price growth over the following two years to 2013.
 
According to the company’s Residential Property Prospects, 2011 to 2014 report, in 2010/11 the residential market was hit by a ‘perfect storm’ of falling first-home buyer numbers – which flowed through to weaker upgrader demand, stalling economic conditions and increases in interest rates. All of which coincided to dampen purchaser demand.

Contact: Angie Zigomanis

To hear a podcast of Angie Zigomanis discussing the main findings from the report click here: