Did you see CoreLogic’s -TEG Rewards Consumer Housing Market Sentiment Survey last year (Two thirds of Australians think the housing market is vulnerable)
..two thirds of Australians think the housing market is vulnerable to a sustainable downturn and a crash in house values
As Australia’s favourite asset class you can see why this is a topic close to everyone’s heart. But can we state for the record that Australia is made up of many different housing markets. They all experience growth (or not) at different levels, at different times for different reasons. Also can anyone out there remind us of when the most recent housing “crash in house values” occurred in any property market in Australia that had stable growth drivers, a growing population, a diverse economy, infrastructure spending?
Of course, we’re not talking about single industry mining towns here, we’re talking about very solid, stable “normal” suburbs where “normal” families live, work, go to school, enjoy their spare time. Of course all property markets flatline, correct a little, grow again …. this is normal, but actually “crash” ??
Sydney is particularly prone to this boom and flat-line cycle..
..and every time Sydney booms we get the same headlines and the same concerns. Tell property owners in Melbourne, Brisbane or Adelaide that their properties have boomed and their markets are about to crash … they might have a different opinion on this…
So applying this theory to all Australian property markets would do those other property markets no justice at all, and could maybe even stop you from making further fantastic property investment choices. The above-mentioned survey also “revealed a slowdown in the proportion of survey respondents who think now is a good time to buy”.
We would strongly suggest that now is a great to time buy property in property markets that have shown little growth recently but have all the growth drivers in place and are waiting to surge like Sydney has.
Many Melbourne suburbs have such great potential….Brisbane already mentioned, Adelaide is always a steady favourite
Make the most of these opportunities, and if you need help doing this then please call us for a no obligation chat. We are here to assist you the buyer make great investment decisions. Call us on 1300 077 766