The other thing about all this is the relevance of everything to the CBD.
I'm sure that loads of the population don't work in it, or need to go to it - other than some event.
Therefore; unless you need to be near the CBD, shift your eyes away from it and its locale for property selections that will be affordable.
Adelaide's result doesn't surprise me. Unemployment in South Australia is at a 14 year high of 7.6%
One of the reasons given for this current lack of affordability and boom is "lack of supply" - supply and demand issue yet again.Rents in Australian capital cities are rising at their slowest pace on record.
While Sydney and Hobart were the cities that posted the strongest rent rises in the year to May 31, steep falls in Darwin and Perth kept a lid on the national average.
The latest CoreLogic RP Data rental index shows that average capital city rents rose 1.5 per cent to $488 a week, the weakest rise on record.
"The sluggish pace of rental appreciation can likely be attributed to the ongoing boom in dwelling construction across Australia's capital cities accompanied by record high participation in the housing market from investors," the report said.
"Most of the new capital city housing stock is units and this type of stock is much more likely to be owned by investors providing additional rental options across the capital cities."
Sydney was the most expensive place to rent a home, with rents rising 3.1 per cent to $595 a week.
And while Hobart posted the strongest annual rise in rents, it remains the cheapest city for tenants at $342 a week.
The report also found that with city rents increasing at their slowest pace and home values falling, gross rental yields for landlords had decreased.
Yields for rental houses fell to 3.6 per cent in May from 3.9 per cent a year earlier, marking their lowest level since late 2010.
For units, yields fell to 4.6 per cent from 4.7 per cent.
* Hobart, up 3.2 pct in the year to May 31 to $342/wk
* Sydney, up 3.1 pct to $595
* Melbourne, up 2.3 pct to $446
* Brisbane, up 2.0 pct to $435
* Adelaide, up 1.2 pct to $369
* Canberra, down 0.6 pct to $500
* Perth, down 4.5 pct to $477
* Darwin, down 5.5 pct to $567
* Combined capitals, up 1.5 per cent to $488
(Source: RP Data)
I think that at the moment the numbers are up around the mid 40% range of all loan applications? And they are all buying in Sydney, too.
The guy is a twit.
I didn't realise it was that high.http://www.propertyobserver.com.au/...rds-the-joker-in-the-pack-simon-pressley.html
"An unhealthily high ratio of investor-owned properties is already occurring with ABS data confirming that 60% of NSW home loan approvals (refer Sydney) were for investors [30% is ?normal?]".
It's academic....40, 50%.I have been telling you for months, you are just too blinkered to take it in. Anything that doesn't already conform to your view is automatically shut out.
Yes, it is a change, but the number is academic.Going from 30% to 60% is hardly just academic, it's a significant change
"Sydney and Melbourne have both experienced significant growth but only one is facing a price correction, experts say."