I have had 3 people in the last few days in Brisbane ask me if I was worried about house prices falling. After I finished smiling each time, I asked “which prices are falling”?
I got a different answer each time but this is simply what happens when we get our ‘over hyped’ media from Sydney and Melbourne and believe they are ‘experts’ and are referring to EVERYWHERE.
The truth is, when we heard the ‘over hyped Sydney media’ talking about the amazing price boom that couldn’t possibly be sustained around 2013 to 2016, when Sydney median house prices grew by over 80%, we weren’t seeing our Brisbane prices moving at all over the same period so why on earth do people take the negative reports and believe they are reflective of the entire Aust property market now?
THERE IS NO SINGLE AUSTRALIAN PROPERTY MARKET!
Hobart has been rising strongly for 4 years now and is easing off.
Perth has been on the wane for nearly 10 years although on the turn now Darwin prices have been heading south with for a number of years.
Brisbane has been flat for 10 years but has strongly turned the corner and in the first year of its own boom phase.
Adelaide has followed Brisbane to a degree and is also on the rise although may not be as strong as Brisbane (in my opinion).
Oh and Canberra has kept rising even though Sydney has fallen the past 2 years.
As you can see, not only are there differences by City but also differences between Apartments and Houses. Differences between inner ring and outer ring suburbs.
See the following article from Michael Yardney quoting REIV stats for Melbourne to see that even much of Melbourne rose in value in 2018 when the higher price and inner ring suburbs fell somewhat.
Smart and successful investors do not worry about a short term fluctuation either way in a given market. THEY BUY PROPERTY WHEN THEY CAN AND VIEW THEIR SUCCESS OVER MANY YEARS. You need a strategy for growth and to buy Investment Grade properties for the long term growth of your portfolio. Chat to me about YOUR situation and I will help you create a strategy then a plan followed by a decision you can live with.
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