You’ve got to love the Fairfax property spruik machine:
Australia’s property prices will be “flat as a pancake” over the next decade, Domain Group senior economist Dr Andrew Wilson says.
The resources boom is over, the international economy “can’t get its act together” and investors will soon start to lose interest. “Going forward we are going to have a much flatter housing market in terms of price,” Dr Wilson said.
Even growth in the stand-out city, Sydney – up 3.8 per cent in the September quarter and 16.6 per cent in the past year – is moderating from the higher levels of last year.
…There would no longer be any need for the regulatory controls being proposed to contain the investor splurge.
The barest sniff of tightening and out comes the counter-jawboning. One thing I can tell you is that in a market that is determined by capital gains, prices are either going up or down, not sideways.
