Agree with the overall statement around Melb being a potential boom city. But the key thing to remember is opportunity cost. If u buy 700k in perth or brissy and lets say growth reduces to 5 percent a year from 25 per cent a year which is pretty drastic turnaround and as u say you have to wait 3 to 5 years for melb to pick up then potentially you have missed out on 160k. 160k is a deposit in Melb. Thus avoiding melb now gets you a deposit for a house in melb later
Agree with this: I was considering buying in Adelaide, but I saw that prices have already increased by 25-30% on properties around $700k, which is about $200k. Instead, I bought a $1 million home in inner southeast Melbourne, which is an absolute bargain. I'd rather pay land tax in installments than pay a lump sum for something that's already increased in value."
If you like the Oxford predictions which you have said are a study then you should be buying in Darwin and probably should still be buying in Perth. Because those are gonna be the best performers in addition to Melbourne which I agree is great buying. I wouldn't be buying in Perth now because I can't stand the headache of buying in this market but there is still money to be made in Perth. Perth goes hard and it's still not unaffordable
I think the bloke with the moustache doesn't know what he's talking about Perth still has at least another couple of years Brisbane is the one that's getting toppy and I'm not saying this out of self-interest I have more money in Brisbane than I do in Perth. But Perth is still cheap and has great affordability because of the high incomes plus it's doing such a huge catch up. Right now I would be selling in Brisbane over selling in Perth
