Over 35% of realestate in Australia is owned outright, no mortgage!
Also, the average loan for the remainder that is mortgaged is nowhere near the median price. Australians are paying down their mortgages faster than ever before....and all this at interest rates that are amongst the highest in the world.
With full employment and a stable economy, whats going to cause Aussies to sell? Micro and macro conditions are different to Ireland, Spain, US. Etc etc.
As an investment class, realestate is amongst very few where the income stream is tied to inflation. We might not get double digit growth every year, but I'm tipping upward upward path. Especially as migration numbers increase in the future, and GenY start entering the property market.
