Credit growth is what it is all about. Credit growth stalls, property stalls. Why did a crap house in a crap suburb become twice the price between 2002-2007? Because bank was willing to lend twice the amount to person who wanted to buy it.
Rents are rising that is a fact. House prices are falling that is a fact. Rental yield will increase to match average mortgage repayment. This is because negatively geared property investors are either liquidating their positions or raising their rents. Property game is over for the time being.
