Trying to predict the future is futile. I was looking forward to steady growth in 08/09 across my portfolio, and instead one property increased roughly 16% (I consider not bad for 1 year), and the other at 6% (quite crappy really). Another one of mine has gone backwards. It's simply silly to say "the Australian market will do this and this, then this...etc" because there are too many sub-markets. FHB, investors, the mega-rich, the mega poor, renters, executive renters, migrants, the job market and real estate agents all influence the sub-markets and at different rates in different markets. As we all just saw, the higher end suffered, the lower end has done well, the middle is on the way now....
I could theoretically predict a 40% across the board drop, or a 15% annual rise and then predict that its basically unpredictable...
I tend to think historical data is a good indicator, but as we all know, the future is unwritten....
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