Economist Philip Soos has been known for his Speculation Index – a property market indicator that forecasts housing performance in the country as early as the 1900’s. Based on his index, is the property trending towards a Boom or Bust?
The last 2 years have provided us with substantial data on property prices trends, with values up by 10% and around 17% in Sydney. Surprisingly, these values are predicted to rise further, as the market relies on interest rates. According to the index, the property market will continue on an upward trend until we see significant tightening in credit. Until it happens, the market is presumed to continue soaring through 2015.
Read more about this on the Property Observer website.