Purchasing in Melbourne? The first upswing in the market could be as early as March/April 2011

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The year has nearly ended and so begins a roll out of New Year predictions for 2011. Most property analysts see rises ahead – all be it more moderate than experienced earlier this year. However speculation of a property crash has not diminished and the dominating headline throughout 2010 has been affordability and the prospect Australia is building its own housing bubble.

The housing crash in the USA understandably generated a lot of ‘what ifs’, even though it was based on conditions not experienced in Australia.However the RBA has repeatedly denied our market is overvalued with deputy governor Ric Ballentino outliningthat the ratio of Australian house price to income “is not that different from most other countries.”

Even Jeremy Grantham, Chief Strategist of Boston (US) based firm GMO – who earlier this year generated a raft of bubble headlines – recently clarified his comments with admission Australia’s market was ‘not a typical housing bubble’

Click here for the rest of the article (Source: Home Buyer Show Website)

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