Yes your right the top percentile will, but the Aussie housing market has been boosted by aquisition by the Chinese middle class and they were prominent in nearly every auction last 12 months and were successful bidders in most auctions driving prices ever higher and creating the FOMO we see now.
70 percent of Chinese household wealth is in real estate and that sector is in tatters due to over supply
https://interestingengineering.com/chinas-ghost-cities-and-its-65-million-empty-homes
In my view the guys running Zip are idiots as the economic headwinds are getting stronger and instead of conserving cash they go on a reckless aquisition spree of acwuiring more loss making companies
Chart - Z1P, page-14160
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Last
$3.37 |
Change
-0.010(0.30%) |
Mkt cap ! $4.425B | |||
| Open | High | Low | Value | Volume |
| $3.41 | $3.44 | $3.36 | $11.37M | 3.359M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 43815 | $3.37 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.38 | 110728 | 23 |
View Market Depth
| Last trade - 11.48am 14/11/2024 (20 minute delay) ? |
| ZIP (ASX) Chart |