22 Apr 2022
Australian Residential Property: Housing Affordability
- Posted by Dejan Pekic BCom DipFP CFP GAICD, Senior Financial Planner
According to the just released Demographia International Housing Affordability 2022 Edditon, Sydney and Melbourne residential property markets are ranked in the top 5 most unaffordable cities in the World.
Sydney came in second after Hong Kong and Melbourne came in fifth (refer table on page 15).
Click to read.
How is this good news for our children and grandchildren?
The recession in 2020 was expected to deflate residential property prices by a forecast 20% or more but it failed to deliver.
Just like an elastic band, if you continue to stretch and stretch, the elastic band will eventually break and that also applies to asset prices.
Please remember to remain invested according to your appetite for volatility and when fear and panic take hold, react by buying more quality assets at discounted prices.
At Newealth we are always looking to support and promote our clients wherever possible and if you have any ideas or comments, please feel free to email me or to call me on +61 2 9267 2322.