Oz prices: ‘20% rise'

Australia property prices will appreciate by close to 20 per cent over the next three years, helped on by greater activity among first time buyers, according to BIS Shrapnel's Residential Property Prospects report, which looked at figures compiled by the country's Real Estate Institute...

The report projects that average residential prices in nearly all capital cities will increase by between 11 per cent and 19 per cent by 2012, although when adjusted for inflation, the actual level of price escalation will approximately halve, in per centage terms.

The report says that the greatest Australia property price growth is expected to recorded in Sydney, Adelaide and Melbourne, where average values are expected to grow by around 19per cent, this is followed by Brisbane (+16 per cent), Perth (+12 per cent), and Darwin (+11 per cent).

Source: www.homesoverseas.co.uk/news