Which cities and regions will deliver the best returns to investors next year?
In 2015 I think we'll start to see a few cities start to over perform compared to their previous performance. So we've got Brisbane as probably the first candidate here, where transaction volumes are already picking up quite substantially. Rental yields are much healthier than what you'll find in Melbourne and Sydney, and there isn't as much of an affordability barrier in that market place. In fact the median house price in Brisbane is about 50% lower than what it is in Sydney now. I think the other market to watch, from a capital city perspective, will be Hobart. We are seeing Australia's most affordable capital city now showing some upwards momentum as well after a pretty solid correction in values. Adelaide's probably a bit of a roughy but I think we'll see consistent growth in that market place, probably not as strong as most other cities though. Probably held back a little bit by the down turn in the manufacturing sector. Regionally speaking, I think lifestyle marketplaces are starting to bounce back a bit now. Be a little bit wary of mining driven and resources areas until we start to see a turn around in commodity prices.