Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Cheaper properties to offer best capital growth in 2009

Staff Reporter 1 minute read

The Australian property market continued to show resilience to the global credit crisis and will offer opportunities for growth in the year ahead, the RP Data-Rismark Property Values Indices for houses and units has revealed.

Released this week, the report said in the 12 months to October 2008 property values only declined by 1.2 per cent – house prices fell by 1.6 per cent and units by 0.3 per cent.

The worse period for property values was in the second quarter of 2008 when prices fell by 1.9 per cent.

According to Chris Joye, managing director of Rismark International, 2009 will present opportunities for capital growth particularly in the “affordable segments” of the market.

“This will be somewhat of a turnaround for the property market where over the last four years it has been the affluent properties which have generally provided the best capital growth,” he said.

Advertisement
Advertisement

“Market activity is already showing signs of increasing in the lower end of the pricing scale.”

Mr Lawless said that buyers should target “strategically affordable” properties in 2009 – homes with a reasonable price tag that are well serviced by public transport, arterial roads and the necessary amenities such as shopping, schools and health care facilities.

 

 

 

Cheaper properties to offer best capital growth in 2009
default
TheAdviser logo
default

TODAY'S POLL

View results >

Who do you aggregate through?

Thank you for your vote, you can see the results here.

more from the adviser
mortgage choice 850 Major brokerage appoints new GM of distribution

Mortgage Choice has announced that Citi’s former head of bankin...

ANZ new still ta ANZ extends business loan terms

The major bank has announced that it will extend the maximum loan...

cash money rolls Credit growth stunted by dive in business lending

Credit growth has waned as a result of a sharp drop-off in busine...

FROM THE WEB