29. October 2011 18:25
People in Western Australia are very positive that in house sales will be continuing going strong. Perth transaction sales increased 6% over the last week to 1,026 and it maintained the strengthening trend that started last September. Despite of the high house sales, will house price sales fall or rise?
The Australia and New Zealand Bank (ANZ) with collaboration of Prophell house, "They overall see that prices are settling in most markets and remaining stable in 2012. They are still assuming that there will be no great change in Interest rate even though some markets are rising and others are falling. This view helps to suggests useful reductions in interest rate and lift prices. The ANZ said, “House prices will continue to drift lower over the New Year as increased caution about borrowing takes its toll on home sales.” The ANZ economist Dylan Eades said, “The bank projected that a shortage of available houses and a tight rental market would keep dramatic price falls in check. The same structural shortage of houses will put pressure on the rental market, improving rental yields in a trend that will eventually induce more investors and first home buyers into the market “after” they have tracked sideways and lower for at least a year.” Despite the shortage of housing, house prices unstable and Interest Rate will go up and down, we should something to bear in mind over the next decade, we will have good reason to changed the market.