Reply: 1.1.1.1
From: Tony Dixon
Hi Geoff,
No need to apologise. I just read that single sentence and got a tad grumpy.
>My advice to invest in
>Melbourne or Sydney for better
>capital growth was from a
>financial advisor who
>frequents the forum. It's not
>advice I had followed in the
>past- I think my cap growth
>would have been a lot better
>there than in Brisbane or
>Canberra where I have
>previously invested.
Hmmm... is this really true? Or a myth?
I mean, apart from the past few years when the MEL and SYD markets have been crazy and my 9mth old son could have picked a winner, is the long-term growth of these cities much greater than ADL, PER, CBR or BNE?
I don't study these markets so I don't know.
There was an API article recently verifying this trend over the past few years (Hobart was negative from memory), but I don't know anything about the long term.
Someone got data to support that?
Probably the long-term city-wide averages are better in SYD & MEL, but what about the prime suburbs in each city?
Looking at the Perth market there are a number of suburbs that have averaged >10% growth over the past 30 years.
See
http://www.reiwa.com.au/content-suburb-30Year-Trends.cfm
for Annual Growth since 1971.
Have individual suburbs in other major cities grown much greater than that over the past 30 years?
cheers, Tony