If the rest of the forum are like me , I sometimes avoid very long threads that I haven't been actively involved with , as they tend to be just a reiteration of the same opinions in different clothing ( I know I never do this myself .... ) but I did take a plunge into the " building towards a new property boom " thread and noticed a couple of quotes that I had missed in the media which add further support for the current sydney centric price increases being an ongoing phenomena .
and from Barry O'Farrell
Nice to see Glen Stevens has been listening to me in my thought that the property market is affordable at the moment
Cliff
Glenn Stevens speech yesterday. ( 3/7/13)
"Likewise, dwelling investment has been low for an unusually long period, with at least some households intent on reducing debt, thereby strengthening balance sheets. Households have accumulated a good deal of cash as well over recent years. Meanwhile, population growth is quite solid and it has been picking up a bit of late. If anything, we will need to build more dwellings than we have been over recent years. Meanwhile, interest rates are low, dwellings are more ‘affordable’, and finance approvals for housing purchases have risen by 16 per cent over the past year. So there are ‘fundamentals’ that favour a pick-up in these sectors."
and from Barry O'Farrell
http://www.theadviser.com.au/breaking-news/28987-ten-year-high-for-housing
Ten-year high for housing
28 August 2013
The number of properties being constructed in Sydney has reached a 10-year high, jumping by more than one third in a year, according to NSW premier Barry O’Farrell.
With figures from the NSW Department of Planning and Infrastructure showing that 21,097 homes were built in Sydney during the past financial year, Mr O’Farrell said housing is an important driver.
“Housing is such a crucial economic driver because of the jobs it creates and the flow-on investment as people buy new appliances, carpet, blinds and furnishings,” Mr O’Farrell said.
Nice to see Glen Stevens has been listening to me in my thought that the property market is affordable at the moment
Cliff