The final part of our series on the Australia Property Market Forecast for 2010.

In this post we get the thoughts from Alex Henderson from Prosper Group.

“The strong performance of the residential property market in the Australian Capital Cities experienced in 2009 is expected to continue throughout 2010.

Within the Sydney market, we are experiencing a severe shortage of properties being listed, however no shortage of buyers, this is causing a supply and demand problem or more simply strong competition for well located and presented properties.

This strong demand is expected to diminish in outer Sydney Suburbs if the RBA continues its run on increasing interest rates, as is expected. However within the 10km radius of the CBD most buyers have already factored these increases into their calculations resulting in demand to remain strong.

In 2010 we expect the buyers demographic to change from ‘first home buyers’ to the ‘home upgraders’ and ‘investors’.

Prosper Group has offices in NSW and QLD and is the buyer’s agent of choice for property investors, home buyers and businesses.

Australia Property Market Forecast for 2010.

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