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Why Australian property prices are set to drop

Posted on 27 September 2012

A leading international strategist believes that property prices in Australia will continue to fall over the next two years. Investec Asset Management strategist Michael Power says that while property prices in the country have fallen by six per cent since 2010, they could fall by up to a total of 20 per cent by 2014.
If you’re looking to buy property in Australia, you could snap up a cheaper home over the next 18 months. Power, the South African based strategist, said: “We’re not seeing anything like the US, Irish or Spanish property bust here. But I think over the next 18 months it could go down by double digits, 12 or even 15 (per cent). A 15 to 20 per cent (fall) would be my outside downside over the entire period.”……………………………………….Full Article: Source


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