Property Investors - Housing Boom Coming

According to a report released by economic forecaster BIS Shrapnel, rising house prices are expected to culminate into a boom within two years.

BIS Shrapnel’s Long Term Forecasts February 2010 update predicts that the Australian economy is on the verge of a major cyclical upswing and expects growth to pick up speed over the next two years and build into a boom later in the decade.

‘Investment and particularly the construction side of it is the primary driver of the growth in the economy.
From 2010, housing construction will take over from waning public spending as the key driver of growth,’ senior economist and report author, Richard Robinson, predicted.

‘Initially spurred on by a combination of first home owner/builder grants and low interest rates, this upswing will gather momentum into a boom by 2012.’

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