The Property Clock has entered a new phase with property analysts confirming we are now on the upswing.
As we have predicted over the past few months, the downturn in the property market was going to be nothing like what the share market experienced. With strong fundamentals underpinning it, sales are starting to increase as demand returns.
Tim Lawless of RP Data-Rismark states, “The Australian property market has moved through the bottom of it’s cycle.”
We are likely to see fair growth for the first half of 2009 before double digit growth returns later in the year and into 2010.