Housing prices in Australia have stabilized

02.09.2010 09:29
In July the index value of residential property in the Australian state capitals, RP Data - Rismark rose by 0,4%. In June it had dropped the first time in 17 months.

According to the director of the company Rismark Christopher Joy, in the foreseeable future, housing prices are unlikely to fall significantly due to the significant shortage of new homes, according to ABC News. But also to grow at the same time they also will not.

"The cost of housing is inextricably linked with household incomes", - said the expert. - "This year, family income, according to our forecasts, will grow by about 5%. Housing, meanwhile, have risen in price by about 4.2%, so further growth is unlikely to occur. "

Director of research Tim Lawless, RP Data says that during the period from late 2008 to March 2010 home prices in the country increased by 16,3%. However, since the beginning of this year the growth rate of this index on a monthly basis has declined, and by the end of the year this trend continues, experts predict.
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Content tags: Overseas property Housing
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