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Perth house prices tipped to rise 6%

Perth median house prices are predicted to increase by six per cent by fiscal 2011 with prices to remain flat this year, according to economic forecaster BIS Shrapnel.

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Freo.
If inflation is running at 4% per annum, then house prices rising 6% in 3 years is a negative in real terms is it not? This equates to less than 2% per year. So if your paying close to 10% per year mortgage rates then you are better of waiting and renting i would have said. The headline could have been written "Perth house prices tipped to drop 2% in real terms each year for 3 years" and been equally true. Also this is assuming credit conditions do go back to 'normal', i think credit conditions since the start of this century have been anything but normal and have seen a credit boom, so to go back to 'normal' would be a return to pre credit boom conditions, with tighter lending standards and greater deposit required.

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