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House Prices Boom again

After a very short lull during 2008, Australian house prices are off and running again. Whilst first hoemeowner grants may have rekindled activity, high migration must also be a factor as well as the lift in fertility rate causing families to upgrade.

Australian average price increase for 2009 was 10.6% with highest 16.9% being for Canberra with their own internal migration surge with expansion of the public serviec by the current government.

Australia's migration has grown significantly to 285,000 for the year ended 30 June 2009 for the ABS Nominal numbers. This is more than double the recent long term average for permanent settlers.

Posted Wednesday, 3 February 2010

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