Realtors Australia are optimistic about 2011

Australia's property market strengthen its position in the next year - says local realtors. In particular, John McGrath McGrath Real Estate Real Estate Agency Executive Director, said that next year we should expect growth in the market caused by the shortage of housing, increasing rental rates and the growth of economic indicators in general. "In Sydney, where there is the strongest investor demand, housing prices in the next three years could rise by 8-10%, especially in the downtown (CBD) and the coastal areas," - said McGrath. At the same time, he expressed regret concerning the policy of the Reserve Bank of Australia and the four largest banks in the country, which recently raised mortgage rates. At the same time, McGrath noted that the majority of investors use their money to buy a property, and therefore the demand for housing in Australia is not determined by the rates on the mortgage. On this Site www.theadviser.com.au