Yes Thomps, have to agree about Brisbane and also other places around the Queensland coastline. Difference there is that many buyers are owner occupiers moving to the sun and lifestyle destinations, not investors seeking to reduce their tax via negative gearing.
But a correction in prices is essential if our children are to ever afford housing.
Just a courtious reminder to all property investors that didn't go through the eighties and nineties owning investment properties......... negative gearing back then resulted in the destruction of wealth as owners borrowed to buy investment properties only to see their capital shrink. Whilst there were tax concessions it was still a bad time to own investment properties.
Just goes to show there is never a sure thing.
real estate to hot up on stock market depressd, page-46
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