How Will The Global Economy Affect the Housing Market?
Some really in-depth comment from realestate.com on how the general carnage on world stock exchanges will affect the value of your property investment – How will the global economy affect the housing market?
It’s a great article if you live in Sydney or Melbourne. Like every other article you have read recently on the Australian Housing market since before the beginning of the year when the carnage on the stock exchanges hit, the article is suggesting that prices in Sydney and Melbourne may not grow at all this year. In fact it informs us that prices have actually dropped in Sydney over the last quarter…. and the biggest surprise of all is the conclusion that the Australian property market is very strong and resilient and that the huge downturns on the global markets is unlikely to have much effect on Australian property!
Now that must be a surprise to most! ….. And by the way, a couple of other Australian capital cities get a one sentence mention. Another big surprise not really worthy of much media mention is that property prices in Brisbane are growing! Read here http://goo.gl/4Oe49f
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