2011 – what’s in store

7 interest rate increases in little over a year played a large part in ensuring that the local property market softened considerably towards the end of 2010. Add this to the significant downturn in international student demand due to the Australian Government’s changes to visas, financial burdens placed upon students, and a strong aussie dollar, and the result is that the prices for apartments have slipped somewhat.
However, we are optimistic that the current malaise could be reversed very quickly. Resources, defence and education are still the 3 big games in town and we have heard that big things will happen in 2011 which will translate into a turnaround in demand for city apartments…