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SmartNewHomes.com market predictions for 2008
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SNAPSHOT:

· Interest rates will drop by 0.50% over the course of the year

· Overall house prices will increase between 2% and 4%

· Average new home prices will rise between 2% and 3%

· Family homes will experience steady growth

· First time buyers will be able to take advantage of incentives being offered by developers in the new year

· Inward migration in the north with remain high as long as prices continue to escalate in the south

· The sales and price growth of apartments will suffer as a result of over supply

David Bexon, Managing Director of SmartNewHomes.com comments: “We have seen steady growth throughout the year, with house prices up 0.7% on last month and 0.7% over the last year. After a slowdown following the banking crisis, many buyers have chosen to stay away after a loss of confidence in the market.

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Date Published: 26 November 2007

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