RE: Could 2018 Be the Year the Wheels Finally Come Off? – Australian Property Market Update - Summer Holiday Edition
I think we're going to see an overall decline in property prices over the next couple of years.
Perth is an absolute stinker of a market at the moment. I sold my property there last year, it dropped in value by $100k in 12 months so I only got out at just above breakeven.
It's good to see the Brisbane market staying relatively strong. I'd expect that market to continue to rise for at least the medium term.
Sydney and Melbourne are well and truly due for a decline for a short while. Whether both markets do decline or not is anyone's guess however they are very much overpriced at the moment.
I'm surprised to see Hobart heading upwards. I thought Hobart and Adelaide would just trend sideways in the current market. Maybe investors are starting to focus on the quieter markets for some bargains.
Edit: I'm trying to up vote your post however it isn't letting me... has anyone had this problem before?
Hobart is an interesting one. I think you could make a case for Chinese immigration to Hobart as a driver of demand in the coming years. I hear there are quite a few Asians starting to move there.
Regarding the upvoting issue, that's really a bummer to hear. Not sure if others have had the same problem, although there does seem to be fewer upvotes than I might normally receive for a post.
That worked, seems I needed to jump on my home wifi to vote... how weird.
Thanks for stopping back by :)