Michael Matusik of Matusik Property Insights predicts property prices in Brisbane will grow by 25 per cent over the next three years, so long as interest rates don’t get out of control, the economy stays positive, and Darren Lockyer’s knee improves (ok, I made up that last one).
“Some commentators are claiming that the residential property market has come to a ‘screaming halt’, but there still remains some price growth.
… Assuming rates drop a bit in 2009 then residential prices could grow at double-digit rates during 2009 and in 2010.”
Source: Brisbane Times
That sort of growth isn’t massive, but it’s still significant. If first home buyers are struggling now, how will they go when Brisbane’s median house price jumps up to around $585,000 in 2011? Will the great Australian dream remain a dream that is beyond the achievable for all but the richest in our community?