I agree Propunter, IMO Level of employment + interest rates = property prices.
We are heading for a surge in property with interest rates but will the employment rate be the enabling factor.
When it comes to commercial property prices though, I think we need to see a few sales to guage what is going on at present time. Historical prices do us no good now and we are probably setting new historical prices for this climate.
We will probably know better once we start to see a jump in house prices in Australia although I dont really think we have seen Aussie home prices bottom yet.
As Gerry Harvey said recently, we will see a boom bigger than the last one, once the recovery starts. Could be a few months away yet before some confidence returns.
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