After 29 years with a ringside seat to Australian property, Rob Harley's observations are well worth reading in his final article for the Australian Financial Review. One point of particular interest follows:
"With population and economic growth, tight supply, attractive tax benefits and a 30-year decline in interest rates, Sydney homes have proved a remarkably good investment. When I joined The AFR, the median house price in the city had just passed $100,000, according to global real estate analytics group, CoreLogic. As I leave, the figure is $890,000. Sure the yields have been low but so has been the volatility. On the CoreLogic numbers, the biggest fall in capital city dwelling values was in a drop of 5.3 per cent in the year to May 2012, preceding the current boom."
The Australian Financial Review, 'The Australian Financial Review's Rob Harley: Lessons from a life in property' By Robert Harley. 18/11/2016. Click for the full article