Maybe the case with appartments/townhouses but will this be the case with house/land?I would tend to argue(maybe too simplistically)that the "Australian dream" of house/land is becoming more and more difficult to attain,at least within a certain radius of Sydney/Melbourne.Combine this with rezoning along transport corridors and the old house/land becomes even more of a rarity.
Units/townhouses not a problem.In fact Ive got no idea how they will fill whats being built currently in Sydney.It is now extremely difficult to find house/land below $450K to the north of the Sydney CBD(to about 20Kms).The situation is also becoming very similar to the west.The south is already much the same.
There appears to have been an even larger divergence between these two types of property market recently. How people can still be buying investment units in Sydney is beyond me.I can fully understand the continuing demand for house/land due to the above reasoning but there will be many a dissillusioned apartment property investor in the next couple of years.The proverbial rear end should drop out of unit demand in the next 6 months/year if it hasnt already.The reserve bank warned these people several months ago to avoid this property investor pitfall.Many seem not to be heeding this warning and over extending themselves in buying house/land or taking the option of buying a unit in preference to a house as houses have only held or contniued their upward move.
