i think we are pretty unique, in the GFC even. have a look at the amount u need to pay to rent out a shiphouse anywhere in most capital cities. esp. Syd, Melb & Brisy. this alone keeps demand strong to own property as 1. to rent out to others, or 2. to live in to avoid paying rent. house prices have held up well, even in this GFC (the worst recession since the great depression) which has destroyed real estate in most western nations. many ppl will realise that if u have a lil' saved away, for the amount u pay in rent, u can take out a mortgage to one day own the damn thing.
real estate has been pretty flat for much too long in Aus. the bottom end of the market is now appreciating well, due to the 1st home owner grants in a major part. it makes sense that this will flow on to the next pricing tier soon & onwards.
