CORONIS BACKS HIA DATA ON "PROPERTY BOOM"
14 April 2015,
PROPERTY specialist Coronis has welcomed new figures from the Housing Industry Association (HIA) that provides context for talk of a property boom.
The report shows Brisbane housing prices have fallen 12.3 per cent since 2010, but have risen 7.6 per cent since 2005.
Coronis managing director Andrew Coronis says the data has been the most informative in terms of a property boom and the HIA's long-term approach makes sense.
"The alarmist headlines and figures we regularly see in the media just don't paint the full picture, so I am glad to see more reliable data coming out," Coronis says.
"The HIA figures show that we are still experiencing the ripples of the GFC, but prices overall have been rising at a normal rate over the last ten years.
"A 7.6 per cent increase in prices in Brisbane since 2005 is in fact consistent with what we have seen on the market.
"This has implications for investors in particular, who should understand that property is a long-term game.
"It's a sticky, illiquid investment so people need to look at the long-term view to make informed decisions."
Coronis says people must be realistic about the kind of returns their property can achieve, based on their portfolio, situation and personable preferences.