Eastern Seaboard Residential Property Price Growth higher than forecast

Westpac has just released the Executive Summary 2007-2009 of its Outlook for Australian Property Markets.

As we have been predicting for some time, the price recovery across the Eastern Seaboard has, in respect of residential property, been stronger than was generally expected in their February report – see quotes from the latest report below: 

• Sydney – “A stronger recovery in demand than anticipated from both owner occupiers and investors in the first half of 2007 … ” 
  
• Melbourne – “Continued strong population growth is buoying the residential market more than we expected in February …”
  
• Brisbane – “Demand for residential has been stronger than we expected …”

Compass Capital Property Group has predicted this recovery since early this year, particularly in Sydney where the market had been flat to falling (on average) since 2003.

Should you wish to consider acquiring residential investment property, please contact us to discuss some very attractive opportunities in most price brackets, including off‑the‑plan.  Gross yields are usually 4-5% and in some cases have 2 year rental guarantees.

To view the full report, click on the link below:
http://www.westpac.com.au/manage/pdf.nsf/10D027DDF43A5978CA2573470020C77F/$File/OutlookExecSumAugust2007.pdf?OpenElement