24

November 2017

Smaller Dwellings, Higher Medians and No Crash...

It has been a mish-mash week of property news - here are 3 snippets...

1. AMP Capital chief economist Shane Oliver has dismissed fears that Australia’s economy is about to collapse, arguing that the housing boom has not been built on Chinese money, and has had more to do with strong population growth . He said that “crash calls” have been made for as long as he has been an economist and are like “a broken record”. Sounds like good sense to us. Read the whole story...

2. CoreLogic reported median values along with the top and bottom 10% medians for all capitals including Sydney...

Sydney Median: $905,917
Sydney Bottom 10%: $563,459
Sydney Top 10%: $1,936,633

Sydney continues to have the highest median, and also the largest price gap - although we are not really sure what (if any) relevance this has to anything!?! Read the whole story...

3. CommSec chief economist Craig James said that there is a general move towards smaller sized dwellings. “Australians continue to build some of the biggest houses in the world, but an increasing proportion of Australians — especially in Sydney, Melbourne and Brisbane — also want smaller homes like apartments, semi-detached homes and town houses. As a result, the average home size has fallen each year for the last 20 years”.

With the continually rising price of land and construction we think this trend will continue for a very, very long time.

Well that's another week wrapped up!