There's a piece over at the Guardian giving figures of how the property market has been driven upwards by investors in Sydney in the last year or two. It's a data-driven article, so lots of graphs for you to look at. Investors have reignited the fire under Sydney and Melbourne house prices There are also a couple of similar articles on income and wealth distribution. Australia's rich are getting richer. Everyone else is stagnating The rich are getting richer – and their wealth is safe as houses One thing that struck me is that the median before-tax household income is around $81K. The Housing Affordability thread on Bassanesse's article pegged it at $117K after tax. That makes affordability look much worse.
It's quite interesting that the facts of investor loans and their percentage of the market can be laid out clearly and yet people will still claim prices are rising for any other reason in the world. It can't be credit expansion and speculation, no way, not possible.
