To such conclusion experts of Bank of Scotiabank, who conducted a study of the 12 most developed real estate markets around the world.
Winning the Australian housing market managed to win thanks to the fact that over the last year it was dominated by high demand due to low unemployment and shortage of supply.
Note that the market was planned "bubble", but thanks to a continuous increase in interest rates, produced by the Reserve Bank of Australia, and the expiration of government measures to cover grant first home buyers it could "blow".
Bank analysts have warned that the 2011 sales of residential property could decline, and prices are a little "prosyadut", writes Property Wire. Signs of slowing down the market began to appear towards the end of 2010 - in the III quarter home prices were up 9.4% compared to the same period in 2009, whereas in the first three months of last year this figure was higher by 15.9%.
Mainly market slowdown in 2011 will be due to higher interest rates that adversely affect housing affordability.