Australia Property Market Forecast 2010.

We asked Sam Saggers, CEO of Positive Real Estate on his forecast for 2010

What can Investors expect from Australian Property market this year?

The residential property market is very buoyant and optimistic for 2010. Many market growth drivers are apparent and one market in particular stands out for sustained and emerging growth. Many key Macro and key indicators such as strong population growth supply demand and stronger rental returns combined with lower rates compared to mid-2007 means the Australian market will prosper throughout 2010.

 Where would you invest your Money?

Given the likelihood of a market cycle recovery and growth prospects my first choice market would be to invest in Sydney – the market has been dormant since November 2003 and has shown early signs of growth from mid 2009. Investors should migrate their money to Sydney.

Sam Saggers is a co – founder and CEO of Positive Real Estate, a leading buyer’s agency and Education Company. A licensed real estate agent in every Australian city, Sam has personally brokered over 1,500 property deals in his 15 year career. Sam has been featured in Your Investment Property and Australian Property Investor magazines. He is a world – class keynote speaker on real estate and has recently founded the Property Wholesalers Co – Operative.

Australia Property Market Forecast 2010.

Australia Property Market Forecast 2010.

We asked Rich Harvey, MD of Property Buyer for his forecast for 2010

Rich Harvey, Managing Director of multi award winning Buyers Agency www.propertybuyer.com.au (independent Buyers Agents helping clients source homes and investment properties).

 ”Harvey believes that 2010 will see solid performance in the property market in selected locations.

“With population growth very strong we’re not building enough new properties to satisfy demand.  This situation of undersupply will underpin price growth in most capital cities.  I’m expecting capital growth of between 7% to 9% in Sydney and slightly lower rates in Melbourne and Brisbane. Vendors are starting to get more confidence which will see listings rise.  Investors will start to come back in larger numbers as rents continue upward, vacancy rates low and prices edge forward.   I’d be investing in quality locations with long term demand and essential infrastructure, transport, lifestyle appeal in capital cities or large regional/ coastal centres with strong employment.”

Australia Property Market Forecast 2010.