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Economic Growth to Support Residential Prices in Australia in 2006, According to PMI Residential Property Update.

Publication: Business Wire
Publication Date: 02-FEB-06 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
WALNUT CREEK, Calif. -- The PMI Group, Inc. (NYSE:PMI) announced today that it has released its fourth quarter 2005 Residential Property Update for Australia.

The Update finds that low interest rates and continued solid economic growth is forecast to underpin residential prices across Australia in 2006, as business investment spending begins to pick up, supplanting recent consumer-led growth.

House prices flattened across much of Australia in 2005 with the cities of Sydney, Melbourne, and Canberra recording modest price declines. Perth, Brisbane and Darwin, whose economies are driven by a booming resources sector, may see modest increases...

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