Where to for house prices in 2013?

Calls for a national property price rise up to 5 per cent in 2013 are overdone. Meanwhile, Australia remains on track for a 40 per cent fall within 15 years of the 2008 peak.

The usual suspects are talking up the prospects for Australian property prices as the New Year approaches, with permabull and Australian Property Monitors senior economist Andrew Wilson forecasting 3-5 per cent growth nationally, and BIS Shrapnel managing director Robert Mellor calling for between 2 and 8 per cent growth for Sydney.

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