by Marshall Cobb - Head of New Projects
It has been a very interesting week for property commentary, and the views could not be more polarised.
BIS Oxford Economics released the QBE Australian Housing Outlook 2017–2020 report, which shows that overall, Australian houses are generally set for growth, albeit at a much slower rate. Full story here.
On the other hand, Robert Gottliebsen from The Australian says that some new apartments bought off the plan are down 12%, and that older Sydney units near the CBD in large estates have fallen in value by up to 25%. Full story here.
To further complicate matters, and to show that conflicting views are not solely reserved for real estate, the RBA says economics seemingly can't explain why unemployment and inflation are both low. Full story here.
All of this crystal ball gazing just reinforces to us that property investors must take a long term view in order to maximise returns from their investment. It is no secret that the boom is over, but on the bright side, buyers will find plenty of opportunities to strike a good deal in this slower market.