ONE man's housing affordability crisis is another man's lucrative investment market.
Escalating house prices show little sign of abating and long-term figures confirm Australian residential property is a strong, stable investment — sexy qualities in these shaky times.
The ANZ property market outlook for 2008 was unequivocal in its recent forecast: "A severe and potentially intractable shortage of housing will continue to drive house prices and rents sharply higher in the years ahead."
This was despite Bureau of Statistics data on Tuesday showing total building approvals rose 8.9% — on a seasonally adjusted basis — and were up 14.6% last year.
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