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Sydney tipped to be star performer in 2011

Sydney's property market is to be the fastest to recover in Australia, a commentator has suggested.

Sydney will be the star performer this year in terms of property in Australia, one commentator has claimed.

Martin Kelley wrote in a piece in the Australian newspaper that Perth's property market is also expected to turn a corner in 2011 after a few years of mediocre growth.

He said that market analysts have their concerns about the city of Melbourne as supply is predicted to overshoot demand.

Frank Gelber, chief economist and director at economic forecaster BIS Shrapnel, suggested to the newspaper that he is optimistic about the future of property in the country.

"I think we have seen an initial recovery from the impact of the global financial crisis and are in a bit of a stall at the moment. The next stage will be a resumption of the upswing in 2011," he said.

Earlier this week, RP Data's Tim Lawless wrote on smartcompany.com.au that the most expensive oceanfront suburb in the country is Vaucluse in Sydney.

Posted by Steve Douglas

- property, Sydney, Perth, prices

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