November 2016 state of the property markets by Tim Lawless

Well worth opening and reading Tim Lawless' thoughts.

My take on what I see from the article:
* Darwin may have turned a corner
* Sydney was the best market of 2016 (who would have picked that at the end of last year?), but both Sydney and Melbourne have had only 31 and 32 day average days on markets (indicating very strong sellers markets).
* Melbourne values have gone backwards in November though - not sure if that's signalling anything just yet, a bit too early to tell, but the main cause of it was the Melbourne apartment market with a 3.2% drop in the month.
* Hobart is getting strong
* Canberra is a quiet achiever
* Perth is still in the poo

November sees dwelling values rise by 0.2% - Property Update

 

Very interesting read, and expect Hobart to get even stronger due to our ageing population and people selling up and relocating. I think I know 3 or 4 people that are doing that right now.

 

Interest figures. In a lot of property investment books I've read in the past there has been a saying that "property doubles every 10 years". Going into the future is it possible that this will change due to the low inflation environment and the sheer price of housing?

 

Many people (myself included) feel this doubling will take more years like 14-17 years as without significant wage growth and inflation it's unlikely to continue to double every 7-10.

 

Where does Brissy stand??

 

Middle of the road still... can you open the link for full details?

 

Brisbane housing market values were up 4.3% over the past twelve months compared with a 0.9% fall in unit values.