Australian property market poised for growth

Strong growth will be seen in the residential real estate sector in Australia over the coming years, analysts have predicted.

Despite recent falls in the country’s property market, price increases are expected to be strong and steady going into 2012 and beyond, according to the QBE LMI Australian Housing Outlook report.

However, the growth is unlikely to be sustained across the country, with some regions, such as Perth, Sydney and Adelaide, clearly outperforming other destinations.

The Australian property market has long been regarded as one of the few around the world to have prospered during the economic downturn, although there have been concerns raised surrounding high interest rates and the ending of incentives for first-time buyers.

Indeed, international research firm IPD recently claimed that the real estate sector down under has clearly surpassed the rest of the world over the past decade.

To this end, IPD managing director for Australia and New Zealand, Anthony De Francesco, said the total return on Australian property had been more than five per cent.

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