Everybody wants to know what is ahead in the world of real estate, but I was recently asked about the biggest changes I have seen looking back over the last decade.
Today I share these, and then I look forward to my 9 property predictions for the next decade.
In my mindset minute, I talk about what I would do differently if I started over again and ways to learn smarter and faster and “getting a bigger cup”.
Today’s discussion includes:
- In 2007, Sydney was the most expensive city with a median price of $500,000
- Perth was the second most expensive capital city
- About 70% of new buildings were being built on the fringes of capital cities rather than in the CBD
- I had just written my first book which became a classic – How To Grow A Multi-Million Dollar Property Portfolio – in your spare time
- We were on the cusp of the biggest economic downturn in almost a century and nobody realized.
- Yet strategic investors stayed the course, didn’t panic and look how well they’ve done
- Back then I spoke about holding residential real estate for the long term and nothing has really changed
- No one foresaw the 3 big drivers of the property markets over the next decade:
- Significantly lower interest rates
- Strong population growth
- Our mining boom led by the surging Chinese economy.
9 predictions for property in the next decade:
- We’re in for a period of lower capital growth
- We’re also in an era of lower interest rates
- There will be significant growth in our service industries
- Our property markets will become more fragmented
- More people are going to live in apartments
- There will be a bust in the inner city apartment markets in some areas
- We’ll have significant population growth
- There will be a lot more white noise
- Always expect the unexpected
Mindset Message: What would I do differently if I started investing all over again?
- I would spend more time educating myself.
- I would learn from others by modeling the most successful people and upgrading my “programming.”
Links and resources:
- Michael Yardney
- How To Grow A Multi-Million Dollar Property Portfolio – in your spare time
- Unlimited Power by Tony Robbins
- Rich Habits Poor Habits
“You can’t predict the future by looking at the past.” Michael Yardney
“I now look into the future not the past. I focus on where future growth is likely to occur.” Michael Yardney
“Learn from mentors and others because learning from your mistakes can be slow and demoralizing.” Michael Yardney
IF YOU’RE ALREADY AN EXPERIENCED PROPERTY INVESTOR OR YOU WANT TO “FAST TRACK” YOUR SUCCESS…
Here’s your chance to invest 2 powerful days and learn renovation and development strategies that experienced property experts are using around Australia to “manufacture” capital growth and generate strong rental returns, so that they can win in today’s challenging property markets.
TAKE YOUR PROPERTY INVESTING TO A WHOLE NEW LEVEL BY JOINING ME IN OCTOBER AT MY…
What’s it all about? Click here and find out more.
Maybe now it’s time you stepped up and played in the big league by getting started in property renovations or development.
This is the course where other “experts” who are now teaching got their education. Click here find out more and reserve your place
Subscribe & don’t miss a single episode of michael yardney’s podcast
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
Need help listening to michael yardney’s podcast from your phone or tablet?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
Prefer to subscribe via email?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.