Latest NewsNo Shortage of Excitement in Year of the DecadeWednesday, 16 November 2016

Welcome to 2010, which is set to be the most eagerly anticipated and intensely watched property markets in a decade.

And after the twists and turns of the past two years - the 2008 bust and the shock 2009 recovery - it's not difficult to understand why.

RP Data-Rismark reports that Melbourne dwelling values grew 17 per cent in the year to November, a stunning reversal of the 0.5 per cent drop that occurred in 2008 during the period of high interest rates and global financial crisis.

Historically, the growth in the 2009 market fell just shy of the "boom"
performance of 2007 (20.2 per cent) but was leaps and bounds ahead of
2004 (0.7 per cent), 2005 (3.4 per cent) and 2006 (4.9 per cent).

"It's a signal from the market that there is very strong demand but we don't have sufficient supply. It's a symptom of a housing shortage,"
said Christopher Joye, managing director of Rismark International.

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