Many Australians think the housing market is vulnerable and a price crash is possible. And they would be forgiven for thinking this, given the relentless click bait and negative press that property received from the national press.
As Australia’s favourite asset class you can see why this is a topic close to everyone’s heart. Remember that the national press is obsessed with Sydney and Melbourne as that’s where most of them are based and most of their readers are based. We can state again 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? Good luck thinking that one up …. ! I’ll await your answers patiently.
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 & Melbourne are particularly prone to a growth and flat-line or correction cycle
… and every time Sydney or Melbourne boom we get the same headlines and the same concerns. Tell property owners in Brisbane, Ballarat, Toowoomba or Adelaide that their properties markets are about to crash. They might have a different opinion on this!
So applying any generalised 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.
We would strongly suggest that now (call it a window of opportunity if you will) is a great time to buy property in property markets that have all the growth drivers in place and are waiting to continue their upward trajectory.
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. Email us at firstname.lastname@example.org.