According to economic forecaster BIS Shrapnel’s Residential Property Prospects, 2008 to 2011 report, demand for housing in Australia will continue to push property prices up, and interest rates may start coming down in 2009. Here’s the BIS Shrapnel property timeline, for those who want to play along at home:
2008 to 2010: rents will increase more than buying
September 2008: possible interest rate rise
Late 2009: drop in interest rates
Brisbane: 22 per cent growth between 2008 and 2011
Darwin: 21 per cent growth
Sydney: 18 per cent growth
Adelaide: 16 per cent growth
Melbourne: 16 per cent growth
Canberra: 15 per cent growth
Hobart: 14 per cent growth
Perth: 6 per cent growth
Source: media release from BIS Shrapnel