The likelihood of house prices rising in real terms in 2013 are “not good”, according to the University of Western Sydney’s professor Steve Keen, who says his 2008 call of a slow 40% fall in Australian house prices over the next 10 to 15 years is looking “healthy”.
According to Keen, for house prices to perform better than the current inflation rate of 2% would require that property price growth start to accelerate. However, he says the opposite has been happening following a “slight uptick in nominal prices over the last six months”………………………………………..Full Article: Source