Real Estate in Australia, property prices in Australia 2013 will grow

9 January, 2013

  

Real Estate in Australia, property prices in Australia 2013 year to grow by 10%, this forecast the real estate market of Australia's leading economists are predicting the country.

Economists say the cause of the price spikes of the real estate market in Australia will be a record-low interest rates on loans and the lack of vacant housing.
Since the Reserve Bank of Australia cut interest rates by 1,75% from November 2011 , and according to the experts is going to reduce it to 2,75% by March 2013 year.

  

  

St George Bank economist Janu Chan said, that the low cost of borrowing has not stimulated demand 2012 Year, but a further reduction in interest rates and a limited supply of housing must return buyers in the real estate market in Australia.

The decline in real estate prices is already showing signs of slowing down - in 2012 he was 0,4% against 3,6% in 2011 Year.

The median price of houses and apartments in eight major Australian cities was $483 Thd. on 31 December 2012 year.

The largest median price was fixed Sydney – $580 246.
In Melbourne She was $500 thousand, and in Perth was $479 Thd.

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