interesting article on Australian Property market
Nov 26th 2003, 7:51 am
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interesting article on Australian Property market
Nov 26th 2003, 8:57 pm
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Re: interesting article on Australian Property market
Originally posted by Enzo&Chloe
http://www.smh.com.au/articles/2003/...522601981.html
http://www.smh.com.au/articles/2003/...522601981.html
Look at historical measures of average house/ property prices as a ratio to average earnings and you'll see that the ratio ALWAYS comes back into kilter (ie joins a very slight worsening in real affordability over time).
Aus property mkt is in a bubble right now, the extent of that bubble depends on location and specifics about each property. Same for NZ. Same for UK.
What is certain is that the bubble will deflate - maybe with a bang, more likely with a gentle hiss. Timing? Aha, that's the tricky bit.
News item this am in NZ showed Sydney property prices were plateauing/ declining though not much data worth in a couple of months' readings.
