3 October 2022 – update
Reading this post from December 2010 the so called property analysts got it so wrong back then and continue to get it wrong today, even after doomsday predictions throughout Covid. So far around 110,000 migrant workers have been given entry into Australia this past year since Jan 2022 and recent government announcements they now talking another 250,000 new migrants!
Current vacancy rates are primarily under 1% Australia wide, new home builds is taking a big hit meaning supply of homes to buy to live in or to rent remains in very critical tight supply. The article below on Melbourne growth is still very relevant 12 years later.
Following on from how unlikely it is that Australian capital cities will experience a property bubble burst … immigrants and migrants are encouraged into our cities and all want a place to live. Not only do they want a place to live they do not want to commute!
What opportunity does this present to property investors?
Invest 18 minutes of your time to view a perspective that is quickly becomig a reality TEDxSydney by Rob Adams titled Melbourne City Planner Reckons that Bigger Cities are Better Cities & identify the truly incredible opportunity that is presenting itself to those looking
Melbourne cannot survive without growth in people, jobs, the economy and an infrastructure see Why Melbourne and also the Fundamentals of Melbourne part 1 and part 2 then make a decision!
Melbourne is not going to wait for you! Either you procrastinate or undergo some due diligence and make an informed decision!
We at properT are here to assist in saving you a lot of time, stress and probably money by doing the due diligence on your behalf, presenting you with a selection of ‘best fit’ propertunities & supporting information, from which you can then make an informed decision.
Vacancy Rate Rental Crisis – year 2022
read more here
Housing shortage
The industry group Housing Industry Association estimates Australia’s housing shortage will balloon to 466,000 nationally by the year 2020. Melbourne is undergoing a planned growth and will outgrow the size of Sydney during this same period with a current shortage of 20’000 dwellings estimated to reach over 100,000 in 2030 with a population of 5,4 million.
Comments or questions are welcome.