Not seeing a 40% drop!, page-121

I mentioned on this forum last year Melbourne and Sydney investment grade properties would do well.....and here we are.

Experts predicting another 12% gain this year.

Reality is that supply is less than half what it used to be 10 or 15 years ago.

Add to that the crazy tamp duty rates... means punters more likely to renovate than move.

Now we also have 10's of thousands of Aussie professionals moving their families back to Oz due to COVID - guess where they want to buy? In metro areas next to good schools and infrastructure.

The bears have been calling for the 40% fall since the GFC....and it ain't coming anytime soon.

Wait until the borders open up again to Asian migration - this cohort don't like the water or bush - they look for metro areas next to good schools and universities.

As for the young not being able to afford?

Since when has it been any different?

Only difference is that 20 years ago we were happy to buy out in the burbs where we could afford a modest house....now the millennials want to buy in the same suburb they were raised in - inner / middle metro areas - and that means competing against investors at auctions.