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I'm watching west Sydney to see where affordability is going to peak for the middle class... Shows the future for the rest of Australia in terms of rental markets.
Millionaires are not migrating to Australia, they only use Australia to park and increase their wealth by buying up property and pushing the prices further. Barely, any country on earth has such negative gearing legislation which helps drive the prices further.
So true PK. In perth, there are a small number of people on very large wages, as a percentage, due to mining. In Sydney, there are a lot more people as a percentage, sharing the top tier wage bracket, because of the diverse economy and the requirement for middle to upper management roles. A lot of pundits think it’s a really simple equation of wages and employment. It’s not.
Japan lost 750k Australia and it’s boomer class and lake of childern has been well known . This is why Gerry Norman likes to bring more people in. Go watch the movie idiocrocrqcy based in the future
Likely if you find a cash flow positive property the capgains will be minimal. $650k property appreciating @ 7% PA. Even if you lost $400 pw over the long run your still making 20k per year. It's forced savings
House owners today I would not think have much to worry about if values dropped twenty percent after three years from now. The damn money already been made!
7% p.a. for three years given the severe shortage of housing, surge of immigration and incapability to deliver the demand, with construction costs to rise +30%. 7% p.a. is the 30 year average. It's by no means a boom just business as usual, given Sydneys years of 10-20% YOY rises since 2010.. with construction costs rapidly rising, high chance thr RBA will need to keep rate rises going in attempt to control construction costs, as these costs being so large will cause inflation to get out of control. I think inflation prediction analysis would be a good video PK
