Will Aussies look to compare home loans as expert predicts price rises?

Tuesday 21 December 2010

Article by Mozo

Australians looking to get a foot on the property ladder could be encouraged to compare home loans sooner rather than later following the comments of one industry expert.

House prices to rise in late 2011, says economist

Savanth Sebastian, an economist at CommSec, has predicted that in the latter part of the New Year house prices are set to rise, the Australian Associated Press reported.

According to the expert, despite a relatively flat market in the final quarter of 2010, house prices look set to rise on the back of a tight rental market and a return to normal trends in first home ownership.

He claimed that the first six months of 2011 will see a subdued market, while the second half of the year will see house price rises accelerate.

This could inspire a number of potential property purchasers to compare home loans now with a view to buying early next year.

"Given the interest rate hikes we've had, it's likely to be a period of consolidation,'' Mr Sebastian told the news provider.

"Later in 2011, rental growth will be a major driver in attracting investors. The only caveat is interest rises.''

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