They were wrong then, wrong now and as long as they are being motivated by making headlines, they’ll be wrong again, and again and again.
My view is that, as we have reported in past blogs, Sydney and Melb will correct and then with an easing of policy, will find their level around the peak of November 2017 until the next ‘real boom’ in another 5-7 years. Right now, it’s mostly the high end properties that dropped the most post 2017 that are bouncing back…That’s all.
You MAY get an overall 10%+ lift in Melbourne because it didn’t complete its Sydney catch up (Sydney rose 84% while Melbourne stopped around 53%).
Watch BRISBANE though $$$
QBE and BIS Schrapnel have forecast a 20% rise in Brisbane over the next 3 years. The property sharks are spruiking it at 80%-100%.
Based on history, it could well be 80% but add to that the economic factors that are different to history, I’m calling a 40%+ rise.
40% will do nicely thank you very much and with Brisbane yields so high most smart investors are running cash flow positive annually. For more detail, drop me a line.
Merry Christmas Brisbane investors! If you get this right, you will have a happy new year.