House prices to remain steady in near future says HIA

Australian property market is going through one of its more stable phases. It is running close to long-term moving averages and thus it may not witness large price swings anytime soon, says Larry Schlesinger in an article for the Property Observer. Australia is well-placed on the stability slope because it has its basics in the right place. The prime determinants- house prices- earnings- mortgage repayments form a healthy graph.

Owing to weak volumes of transaction, house prices have not got the necessary momentum in the past but things have changed lately. Already, the residential constructors are laughing all the way to the bank, given the steady price movement.