Property news this week w/c 18th March 2019
Starting the week off on a positive note with this article via www.switzer.com.au
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?
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.
In other news: