Again another year has started and the bold predictions are out to prop up a nervouse government and REI.
Hows this from the same website and only a month apart, these are the so called property guru's, how go you ever believe what real estate agents or REI companies says..........
Outlook good for Sydney's property market in 2012
By Rich Harvey Thursday, 02 February 2012
The National Market
This year is set to be a year of recovery and consolidation for most Australia property markets, but Sydney is predicted to be a better performer of the capital cities. Some areas will enjoy solid growth driven by latent demand or resource drivers while other areas will languish. Last year’s market was dominated by natural disasters, mixed economic signals and fragile consumer sentiment. Australian Property Monitors noted that national median house prices were down by 4.2% but are predicted to rise by 3% to 5% in 2012. Sydney’s median house price only declined -0.9% last year compared with -3.1% in Brisbane, -1.2% in Melbourne, -2.2% in Perth, -1.4% in Adelaide and -3.5% in Darwin.
Then...........one month later same website and publication
House prices to bottom out in 2012 and start rising from 2013: NAB
By Larry Schlesinger Friday, 13 April 2012
House prices are expected to bottom out later in the year and then starting rising modestly from 2013 led by Western Australia, the latest NAB quarterly residential property market survey has forecast.
National house prices fell 1.3% in the first three months of the year, following a fall of 2% in the 2011 December quarter and a 2.4% decline in the September 2011 quarter, according to the survey of about 300 property market participants, including real estate agents and property developers.
Those surveyed are forecasting a further 0.2% decline over the next 12 months and then 1.6% growth in 2013 and 2014.
Good luck making a decision based on what is printed in the media...................no increases this year people are going to save and stay liquid.
