Don't buy appartment, it has no land title & has ongoing fee. Let the foreigners buy them.
Bears who hate properties don't have long term mentality longer than 1 year time frame. Their main focus only in daily & weekly price fluctuation. Guess where they like to park their extra money? Highly speculative 10c stocks (not CBA that pays divvies..... let alone brick & mortar investment)
Median price below indicates house with land title always a star performer over longer period of time. It hedges itself well against inflation & fiat currency weakness. Whoever bought them in lets say 1991 or 2001, now they have a free place to live & growth to envy. In the next 10-20 yrs they'll retire with ease. Do you think yearly 400,000 Canbera sized popolation growth sustainable in the next 10 yrs? I don't thinks so... more housing, hospitals, schools needed to cope.
Sydney 1971 = 21.2k median
Melbourne 1971= 15k median
Sydney 1991= 182k median
Melbourne 1991= 127k median
Sydney 2011= 621k median
Melbourne 2011= 540k median
Land title housing is gold in different form. But more productive & useful. You can rent it out / part of it & pay income. Gold you can't, but still a good hedge alternative addition once you own a house.
