Sydney and Perth Residential Sectors Set to Lead the Nation: Report

THE Sydney and Perth residential sectors may have been the basket case of the country in recent years, but all that is expected to change, according to new research by MacroPlan.

The consultancy expects Sydney and Perth will lead the nation in regard to demand this year, led by increasing incomes, improving business prosperity and a shortage of new residential supply.

MacroPlan also anticipates some regional centres will perform well on the back of the resources boom, population growth and value.

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Unsustainable Housing Bubble in Australia, Expert Warns

EDWARD Chancellor, the man who predicted the global credit led economic downturn in 2007, has referred to Australia as being amidst an “unsustainable housing bubble” with values potentially more than 50 per cent above their fair market value.

Mr Chancellor, who is employed by US investment bank GMO, said Australia is in the middle of a once-in-a-40 year event, adding the bubble could burst at any time.

“If house prices were to revert to their historic long-term average (ratio of average price to average income) they would fall quite considerably,” Mr Chancellor said of values.

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Mosman Tops National Survey – Dollar Value Sales

MOSMAN, in Sydney, ranked as the suburb to record the highest dollar value of sales in the year to July 2010 – almost $851 million.

Research group RP Data has published a survey ranking the country’s top performing suburbs.

Using the total value of property sold for the year, the suburb of Brighton ranked highest for Victoria.

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