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housing Tag

[dropcaps]H[/dropcaps]OUSE prices will mirror Australia's two-speed economy as a two-tiered  property market develops over the next three years, a leading forecaster  says. Home owners and investors in New South Wales and resource-rich Western  Australia, Queensland and the Northern Territory will benefit from above  inflation price growth but in other parts of the country they will ''fall in  real terms,'' economists BIS Shrapnel said. A BIS Shrapnel report Residential Property Prospects, 2012 to 2015  predicts a recovery in those states that will ''gain traction through 2013'' as  resource investment flows through to other sectors of the economy. By contrast, conditions in the other non-resource states (Victoria, South  Australia, Tasmania and Australian Capital Territory) would continue to be  tough. "Median house price growth in Melbourne is forecast to be minimal. After  accounting for inflation, prices are actually forecast to fall by 6 per cent in ...