Paul Braddick 
Head of Financial System Economics, ANZ
Presentation Outline
Outside of New South Wales, the residential property market has generally achieved a very soft landing and underlying market conditions are improving rapidly. Rental markets are tight with vacancy rates below 2% in most state capitals.
Weakened developer sentiment has lowered new dwelling approvals well below underlying housing demand. Current approvals levels foreshadow new housing supply in the year ahead of around 140,000 dwellings which is well short of ongoing underlying demand of nearly 170,000.
Consequently, housing markets will tighten significantly further in the year ahead, providing the catalyst for the next market upturn.
Greville Pabst FAPI, FRICS 
CEO & Director,WBP Property Group
Presentation Outline:
The Melbourne property market has been described as 'two speed'. The delineation is no longer East/West, but rather inner/outer. The top end is strong while the mortgage belt is weak.
When compared to other capital cities, Melbourne is the fourth most affordable city. Is Melbourne undervalued?
Infrastructure projects and population growth remain two of the key drivers of future property demand and growth. WBP has identified five ‘hot spots’, including inner city and regional areas, for home-buyers and astute investors to keep a close eye on in 2007.
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