This Blog is designed to provide information about buying or renting apartments in Brisbane, Australia.
Tuesday, June 17, 2008
Prediction from BIS Shrapnel
Interest rate rises to stall residential property price growth in most centres despite record net overseas migration and a rising deficiency of dwellings.
Independent economic forecaster and industry analyst, BIS Shrapnel, expects all Australian residential property markets will experience marginal price increases in 2008/09 as interest rate rises halt price growth rather than force a downturn.
BIS Shrapnel is forecasting another interest rate rise to come through in September quarter 2008. Despite a further rate increase, the average cost of renting is set to rise much more than the cost of buying in 2008/09 and 2009/10, due to the undersupply of new housing.