Our real estate experts are at it again – Spruiking.

It looks like our real estate experts are trying to pump the markets again. In Adelaide, readers woke to an article in yesterday’s Sunday Mail, House Prices Set to Boom :

HOUSE prices are set to jump up to 15 per cent – or an average $45,000 – in the next year, with real estate experts predicting a South Australian property boom.

After successive years of double digit property price growth in the early 2000s, Adelaide recorded a below-inflation increase of just 3.6 per cent last year, the smallest in a decade.

But the Real Estate Institute of SA said the market was now as strong as the boom year of 2003, which saw average house prices soar 16 per cent.

The following day, the Monday edition of the Adelaide Advertiser had plastered in bold font, Get Ready for Property Boom :

Residential property prices in Adelaide are forecast to rise by 16 per cent in the next three years – the third highest growth in the nation, a report says.

Mr Zigomanis said growth in rents was expected to outpace property prices growth in the next three years. “In the rental markets vacancy rates are very, very low and we are seeing a pick up in rental growth, which means yields will improve and that will bring back investors,” he said.

So our property expert, Mr Zigomanis says rental vacancy rates are very, very low? Gee that is contrary with the article the Sunday Mail published three weeks ago, “What Rental Crisis?” where it reported some rentals were on the markets for up to five weeks.

I’m confused. Anyone else?

» House prices to boom – Sunday Mail (Adelaide), 17th June 2007.
» Get set for new housing boom – The Daily Telegraph (Sydney), 18th June 2007.
» House values to rise – Herald Sun (Melbourne), 18th June 2007.