With the triple challenge of a pandemic, recession and social and political unrest around the world, people are wondering whether property is the way to go. The economic slowdown caused by our government to control the coronavirus pandemic plus rising unemployment and falling consumer confidence is creating significant headwinds for our property markets. Despite this…
Australia won’t see high population growth at pre-COVID levels for years. This is a problem for many sectors. Our education system is underwritten by international students, our residential construction sector depends on a steady stream of new residents needing to be housed and all the highly skilled jobs that our economy created couldn’t possibly have…
Ultra-low interest rates have created a unique environment where buying a house in many areas is cheaper than paying rent on one In many areas, rent money is dead money, and renters with secure jobs are better off buying a house than continue paying someone else’s mortgage. When it comes to houses, that is a…
It’s no secret that Australia is currently in recession. But what does that really mean? How will this affect you, your job, your finances and the value of your home or your investment properties? That’s what I’m going to explain in this article that’s necessarily a little longer than usual. Firstly… What is a recession?…
Believe it or not…Australia has 46 new million-dollar suburbs despite the Coronavirus induced recession. Melbourne saw median house prices in 24 suburbs exceed the seven-figure threshold this year, while Sydney had 15 and Brisbane, seven. Despite everything that’s been thrown at them, our property markets have remained remarkably resilient. And the upper end of the…
There’s no lack of property-specific data information out there. It is often available with just the click of a mouse. However, with this increased availability of data, there are new challenges. How do you make sense out of all this data? Whose numbers can you trust? In today’s episode of the Michael Yardney podcast, I…
Australian property values will fall by up to a third! That’s the type of forecast that’s been going around for the last few months, in fact for the last few decades, and in the past have been easy to dismiss as they were made by overseas “experts” each trying to outdo the other with sensational…
Everyone is aware that there’s a bit of friendly (and sometimes not-so-friendly) generational rivalry going around between the Baby Boomers and the Millennials, with a lot of spicy debate around which generation faces the biggest number of issues. Millennials think Baby Boomers inadvertently set them up to fail – while Baby Boomers believe their younger…
CBA Economics stated last week that property price declines are “inevitable”. It has forecast that prices will fall by circa 10% in Melbourne and Sydney over the next 6 months. It cited many reasons for this forecast including higher unemployment, lower economic activity, lower mortgage volumes, falling rents and fewer overseas buyers. I wanted to…
The Darwin housing market is relentlessly continuing its decline, even as recoveries occur elsewhere. The Northern Territory is the most sparsely populated state or territory in Australia and seems much too far away for most investors to get excited about, especially with its house market on a seemingly endless downward spiral. Yet back in 2009…