The new year has arrived and most property analysts see rises ahead – albeit more moderate than experienced in early 2010. However speculation of a property crash has not diminished and the dominating headline throughout 2010 was affordability and the prospect Australia was building its own housing bubble.
The housing crash in the United States of America understandably generated a lot of ‘what ifs’, even though it was based on conditions not experienced in Australia. However the Reserve Bank of Australia (RBA) has repeatedly denied our market is overvalued, with Deputy Governor Ric Ballentino outlining that the ratio of Australian house price to income “is not that different from most other countries”.
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