When I met with my key executive team to work on WBP Property’s 2011 Forecast, what struck me was how the structure of the property market had remained unaltered in the last 12 months, while two or three market conditions had changed considerably.
What emerged from our analysis is the variability in outlooks for different metropolitan areas and the property types within them.
Our conclusion is that interest rates are likely to have a decisive impact on the overall market. With at least two rises predicted for this year, we expect overall market growth to be flat – between -5% and +3% for the year.
Above all else, it is the influence of two market conditions; transport access and affordability, that are emerging as the real drivers of growth for individual properties. While most of the market’s underlying structure is likely to remain constant, it’s the combination of these two factors that will determine whether a property or location has the right equation for growth.
2011 is shaping up as a year of opportunity for the shrewd property investor, and equally, a year of risk for the uninformed buyer.
For further information or to arrange an interview with WBP Property CEO, Greville Pabst contact: Paul Thornhill, Media and Marketing Manager on +61 413 583 033 or firstname.lastname@example.org