House prices tipped to lift by 2012

[lenovo]

"BIS Shrapnel estimates Sydney's median house price at June 2009 to be $530,000, and predicts it will rise by mid-2012 to $630,000. Melbourne's current median house price is estimated at $425,000, rising to $507,000 by June 2012."

http://www.news.com.au/business/story/0,27753,25633929-31037,00.html

 

[Propertunity]

Don't get me wrong - I hope they're right....although I have been known to bag BS before for getting it wrong.

But don't you just love the language? "HOUSE prices could rise by as much as 22 per cent during the next three years, an economic forecaster says."

This is slightly better than 7% pa or a reversion to a doubling every 10 years on average. Yet they can 'spin' "The median house price in Newcastle is expected to soar 22 per cent over the three years".

I suppose it is better to see these types of news articles than the, up-till-now, D&G / Prof. Keen stuff.

 

[craigb]

i am no Bis Scrap, or colls int , but i think that the current prices are going to be the norm , just as once they were 100k and then 200k and now 400k thats how it goes???
So if the planet was ment to implode, and we were all turning into hippies again, and learning to shear sheep, and grow our own vegies, this would,should, or could have been the toughest leanest time since the thirties, but it has not been so!
So everything i see it as pointing forward and upward from this point , and if we can get on the band wagon now! i think in 2012 theACA shows will be telling us how greate property is, and how people have made $$$$ from it. then the rest of the nation will rush in too!, prices will stabelise and those late comers will crap on property once again,