Property prices have soared higher than expected predictions and there is no sign that it will be slowing down in the near future. This is great news for the Australian Economy and Investors alike.

The Australian Bureau of Statistics (ABS) has shown the house price index rose 5.1% over the year to June. This and the RBA cutting the cash rate to a new record low (2.5%) is a recipe for fortune hungry Investors looking to build their property portfolio.

Experts are predicting now that house prices could continue to climb for at least the next year. Due to the low interest rates and Investors looking to place their cash into a secure investment after other fading investment options the market is set to have higher and higher house prices.

With population growth there is always strong demand for homes. Coupled with lower interest rates and demand fast overtaking supply, now is the time to Invest in property.

It has been said that over the next 12 to 18 months, the property industry will lead the way and drive the economy, replacing what the mining sector has left behind.