Which could compound things just a little bit more a lot of focus on on less interest only lending less investment lending less hire LVR lending less high debt to income ratio lending as well so a lot of restrictions in the marketplace that I think will continue to curb demand to some extent but there’s also some some good opportunities here if you think about the market segment that’s been most resilient its owner-occupiers we’ve seen a real upswing in first home buyer activity harder that’s being fueled by stampeding concessions in New South Wales and Victoria we don’t market like.
There’s been no there’s been no stimulus for first-time buyers and there nearly a quarter all owner-occupied demand highest in mini-state mostly because we’ve seen a portability improvements in that marketplace and it’s much easier to be active and the same exists in Melbourne as well would you say the cycle of a downward trajectory would be complement complemented by the same upswing time and in motion I guess is there any reason why it would be any different to the city market no not at all obviously each market has its own dynamic which is fueled by generally demographic trends and economic conditions and they’re very different between Sydney and Melbourne so probably one of the reasons.
Why Melbourne has been a little bit more resilient to Sydney up until recently and we saw Melbourne continuing on in terms of growth longer than what Sydney did by about six months was that we’re seeing much stronger migration trends across the Melbourne metro area particularly www.sydneypropertyvaluations.net.au interstate migration overseas population growth speak Dada starting to come down a little bit but still very strong but overall Melbourne still the population growth powerhouse of Australia population rising by more than % per annum but we’re also seeing in Sydney that that exodus of Interstate migrants to other regions is really gathering some momentum.
Now so we are seeing the demand pressures really starting to come off across the Sydney market we obviously is migration starting to slow down but most importantly interstate migration is really starting to ramp up now generally moving to Queensland some moving into Victoria as well so I think Melbourne probably does seem to have a better fundamental than what Sydney does in terms of those demand drivers.
It’s also building more housing though so the supply side of it is still showing some imbalance particularly around that the apartment sector which is still or at least based on June data which is the strain of your statistics construction data we’re still seeing a record number of apartments being built across Victoria a little bit more than , and that’s obviously concern for the the Melbourne that couldn’t bad–it’s supplying the man so you know we’re going to need these properties at a point in time
Property fines made property valuation sydney simple and today’s video is on the topic which is wool property prices .
property valuation sydney continuously rise indefinitely and if so what would that look like and more.
- Importantly in our lifetime what will properties be worth in Melbourne Sydney Brisbane.
- The major capital cities in Australia in the next years because one of.
- The arguments that I keep hearing is well property prices just can’t double every seven to ten years well.
- I say yes they can because they’ve been doing so since the nineteen hundred and one and if you’ve come to any of my live events .
I actually go back to with the property market in Melbourne where nobody could have got a block of land in in places .
like Brunswick or Coburg for something like ten pounds you know and back there.
Was a lot of money by the way it was equivalents probably today but so property prices do double every seven to ten years not every property yes but for the major capital cities.
There’s definitely been a trend of doubling over the next either over the last seven to ten years so .
A lot of them say well properties can’t go in sin they’re from two million now from.
A million million price now to two million to four to six well yes they will and they can.
The most important thing is to understand it’s gonna happen with or without you it doesn’t need.
Your specific money for it to happen and I’m going to talk about why that’s gonna happen .
why there’s no Reed there’s no buckling in this trend and I’ll show you some cities around.
The world where this has already occurred so if you’re willing to look at what Melbourne will look like years from now .
kids come in Sydney Property Valuers they can whatever theycan borrow they’ll generally do which ispretty scary so Sydney Property Valuers .
well it is because ifinterest rates go up they don’t makethose allowances sir.how far do youthink interest rates would have to movebefore.
we see real problems wouldn’t bemuch i I’d say one percent wouldprobably hurt a lot of people yeahand consumer.
activists say banks andbrokers have also been signing people upfor mortgages they can never affordwithout their knowledge there’s a lot ofevidence .
that we’ve come across thatbanks are actually fudging the lightapplication forms of a borrower’s tomake them look a lot more creditworthythan.
what they really areeconomist lindsay david has presentedmore than , examples of altered loanforms to the parliament he says it showsthat banks are engaged in predatory.
we didn’t have to gotoo far to find someone