The Dark Side of Melbourne
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Unemployment, vacancies, high levels of stock on market, oversupply and government deficits are just some of the issues starting to manifest and cause problems for Melbourne’s property market.
Sydney’s Poor Supply
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Last week we addressed the issues we felt were going to affect property prices in Melbourne; today we will look at Sydney and see how things are going.
Inflation’s 13
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Many people do not really know what inflation is and how it works. They think it is some economic mumbo jumbo, but it actually is the ‘invisible thief’. Inflation has been robbing every Australian since settlement, and from the introduction of decimal currency (dollars and cents) in 1966 it has done a fair amount of damage.
The State We’re In
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Over the last few years the mood surrounding investment has been gloomy, and any signs of recovery have been marred with pessimism and self doubt. Now there is a line of sentiment that is noticeably positive in Australia; we are the lucky country, and many are starting to remember that.
The Baby Gap
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For many of us, our super is the second largest investment we will ever make after our home. The apathy that many have towards this nest egg is a widespread problem, exacerbated by the recent poor performance of many super balances.
Melbourne Steps Out Of The Spotlight
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As a property research house we constantly receive lots of questions from clients and business partners about where the “hotspots” are for property. On a daily basis we are questioned about the different markets around Australia and one of the most common questions is about the Melbourne market. As a service to our dedicated readers today we will go over our reasons that make Melbourne not the ideal market to be currently investing in. As usual, this is not to say that there are not great buys to be found in Melbourne, it is just the macro factors have pushed Melbourne below Blue Wealth’s approval line on our ratings model.
Adelaide Developers Go ‘All In’ on House and Land
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Struggling developers in Adelaide are going ‘all in’ to sell their house and land packages. Despite historically low interest rates, attractive government grants and developer incentives, Adelaide developers are still scrapping to get sales. Looking back at previous market cycles in the property industry, if such incentives were available property prices would be doubling every three years and everyone would be buying into the property market.
Government Grants To Change?
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Much like many aspects of business in Australia, the government has a heavy hand in the property market. Current grants aimed at new builds from the federal and state governments to help first home buyers into the market are failing. Besides the grants’ design to help first home buyers, they are supposed to be a double edged sword for the government – if more first home buyers are purchasing they are supporting construction, a major employment sector, and therefore helping the overall economy.
Give Them What They Want
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One of the great messages from our seminars is simple: don’t think about what YOU want when purchasing an investment property, think about what the world will look like when it comes to sell in the future. While we can’t accurately predict exact future circumstances, we are witnessing a significant shift in Australians’ attitudes towards housing that will present a markedly different housing dynamic in the future. Blue Wealth is currently recommending, not exclusively of course, established inner city areas close to amenities and lifestyle drivers.
