The International Monetary Fund has warned that housing prices in Australia are overheated by as much as 10% due to an influx of capital driven by the commodities boom.
But Australian Property Monitors’ economist Andrew Wilson says that figure doesn’t matter as long as homebuyers can pay their mortgages, and the rising number of full-time jobs will keep the market sustained even though price growth could stay flat.
“It’s a good time to be a buyer right now, but this won’t last because capital markets are strong.
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James was the editor and publisher of SmartCompany and LeadingCompany for five years. He is now the Australian Financial Review‘s companies & markets editor, and a former BRW editor.
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