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Matthew Sullivan
Property prices in Sydney's Northern Beaches are set to soar, Raine & Horne’s David Gilmour said.
According to Mr Gilmour, a significant housing shortage in the area has resulted in property prices climbing by 10 to 12 per cent year on year.
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And, with no inroads made on the housing shortage front, Mr Gilmour expects to see prices climb further still in 2011.
"You don't have to be a rocket scientist to know that we have a vast shortage of housing in this area, and this has been increasingly the case since 1987/88," said Mr Gilmour.
"This has contributed to prices being pushed hard over this period, and we could yet see some dramatic price rises for both apartments and houses in 2011," he said.
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