in economic terms Karratha is going from strength to strength with a population growing like crazy
And Gladstone shouldnt be much different
And yet Karratha's property prices are set to fall heavily... or that's the intention anyway by government
missing from all these analysis by these so called experts is supply considerations. They always assume without any question that supply will always be inelastic and therefore prices have to go up, like some sort of economic law carved in stone
Not only that, they seem to think that supply will never catch up and a price premium exists forever.
Karratha, Gladstone and even Canberra all have plentiful land within 10 minutes of the centre of town
its ludicrous to assume prices will always be high in these towns
Just recently I looked at the canberra job market. There are more jobs in just my field than there are blocks of vacant land in Canberra
