Housing Madness

This must be quite a laugh for people not living in oz. (should be in the comedy section)

House prices set to jump 20%, forecasts show

Quote :

House prices will continue to grow by up to 20 per cent over the next three years despite interest rates hitting a peak of 9.1 per cent, a respected business forecaster said today.

A QBE Housing Outlook 2010-2013 survey compiled by BIS Shrapnel forecasts house-price growth between 9 and 20 per cent in Australian capital cities over the next three years.

Perth, Sydney and Adelaide are forecast to grow the most while Melbourne, Darwin and Canberra will grow the least.
Advertisement: Story continues below

"Price growth is forecast to be strongest over the next three years in Perth, Sydney and Adelaide - all experiencing forecast rises of around 20 per cent in median house prices," the report states.

http://www.theage.com.au/business/property/house-prices-set-to-jump-20-forecasts-show-20101012-16h40.html

sounds funny they are forecasting a 50% drop in home prices in Canada

Sheesh if only I could live over there NB.

Brother and sister and bro-in-law want to come with me when I look at places in the next week or two. I will let you know how things go lambs.

And who are the BIS Shrapnel that forecast this?

Yeah lets see what happens.