Starting the week off on a positive note with this article via www.switzer.com.au
Putting the property market into perspective
It’s an excellent article to read that breaks down the cycle of property busts and booms all the way to the 1800s.
The article concludes quoting similar data which we used in an article here. That is, the booms overshadow the busts.
“Learning from the property cycles, particularly over the last 30 years, we know that prices go up and down, and historically the downturns have been short and not as deep, compared to the upswings, which historically tend to be longer and rise higher. It’s important to remember that property is a long-term investment and must be reviewed on a 10-year horizon, due to the higher transactional costs in buying and selling.”
Also this week comes a new report from the University of Sydney. One of the recommendations it contains ‘argues for the broadening of land tax arrangements in NSW to cover owner-occupied homes’, this is to cover for upcoming state government fiscal constraints due to the current downturn. What do you think?
NSW finances face a serious squeeze unless radical action is taken
Despite continued assertion from the media that housing is still not affordable and nothing is selling, there are decent pockets of well-performing markets in the city, as can be seen from this article on Domain.
The types of properties and prices most popular in Sydney over summer
In other news:
Fuelled by The Block, property turned on its head in 2003 and we’ve been feeling it ever since
The end of the property boom: Is the worst still to come?
Meriton property owner Harry Triguboff sues NSW Government over Sydney development
This Sydney tennis court just sold for $3.55 million
March is traditionally a strong month for Australia’s housing market, but not in 2019
