Business
Property prices: Why the house price doomsayers got it so wrong – The Australian Financial Review
Property prices will rise 20 to 30 per cent from pre-pandemic levels as superior income growth and much cheaper mortgage rates dramatically expand our net purchasing…
In the 3½ years since the peak of the last great housing boom, Sydney dwelling values have appreciated by a grand total of just 1.13 per cent. Thats not 1.13 per cent each year, but rather the sum of the capital gains since August 2017.
Put differently, the value of Sydney bricks and mortar has inflated by only 0.3 per cent annually over the past 3½ years. And thats after accounting for the 6.6 per cent jump in Sydney dwelling values since their September COVID-19 nadir.
Superior income growth combined…
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