SQM Research principal Louis Christopher has made the bold prediction that the housing market is about to enter into an imminent recovery phase.
The prediction is contained in ‘Christopher’s Housing Boom and Bust Report’ for 2012/2013, released this week.
SQM Research predicts outperformance for Darwin, Sydney and Perth, with the average capital city gain in 2013 predicted to be between 4 per cent and 7 per cent.
Commenting on the report, Christopher said the housing downturn that had commenced in 2010 for most capital cities had just about run its course.
“Interest rate cuts appear to be creating a bottom in the housing market, and the prospect of more rate cuts will likely create a rise in dwelling prices for the remainder of this year and into 2013,” he predicted.
Christopher said the rate of recovery was going to vary from city to city, but all cities should positively respond to the rate cuts.