The accuracy of property forecasting in Australia

Property forecasting is an important component within a property investment strategy. Using the Australian Property Institute’s “Australian Property Directions Survey”, this six-monthly survey amongst independent property forecasters in Australia is used to compare property forecasts with actual property performance to assess the accuracy of property forecasting in Australia over 1999-2005. The accuracy of this property forecasting is also benchmarked against a number of alternative naive property forecasting strategies to assess the “added-value” of property forecasting in Australia