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Will Sydney property prices go higher in the coming 20 years?- Pete Wargent

My word they will. There is simply no way that land prices will become cheap with this kind of urban and infrastructure planning.

Until Australia moves away from the crazy idea that we have to cram ever more millions upon millions of us into a handful of popular locations located within a few kilometres of Central Business Districts and popular beaches, we are destined for higher dwelling valuations in those areas.

Prices in less popular suburbs away from the cities remain affordable enough, but younger Australians want to live near the action.

From SMH here:

“Sydney will have to meet the challenges of an ageing population and a ”baby boom”, according to the latest growth projections for the city’s suburbs.

Figures released by the NSW Department of Planning and Infrastructure predict an extra 2 million people will call the state home by 2031, when its population is tipped to reach 9.2 million.

Sydney’s growth is expected to accelerate at a faster pace than the state, with the overall metropolitan population projected to be 5.8 million in two decades – an increase on the 5.6 million used for the government’s draft Metropolitan Strategy released in March.”

The article continues:

“Urban Taskforce chief executive Chris Johnson said the projections showed Sydney would need 100,000 more homes than planned in the next two decades.”

SMH

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About

Pete Wargent is a Chartered Accountant, Chartered Secretary and has a Financial Planning Diploma. He’s achieved financial freedom at the age of 33 - as detailed in his book ‘Get a Financial Grip – A Simple Plan for Financial Freedom’. Pete now manages his investment portfolio, travels and works as a consultant in the finance industry from time to time. Visit his blog


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