Sydney Growth

From: Alan Hill

Statistics are interesting things aren't they?

I was looking at some Housing figures the other day that I believe came from the Real Estate Institute. They went back 20-30 years. Average annual capital growth for Sydney was around the 7% mark for that entire period.

Every one tells us that Sydney is going through an absolute boom at the moment and yet I heard on the radio today that in the last 12 months Melbourne has gone up about 14% and Sydney about 6.4%.

I hope the next figures that I see for Sydney show something very different to 6.4% to warrant a boom description. Melbourne at 14%. Yes. Maybe these figures just reflect a large lag?
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Reply: 1
From: Anonymous

I suppose a boom is relative. Some of us expected a fall in Sydney prices post Olympic folly. We didn't bank on another $7k added to the FHOG and we didn't bank on interest rates staying low either. And now rates have fallen again. Go figure - must be an election year.

So to the point: 6.4% after continuous growth for 3+ years is surprising. I suspect we will see another 10% in Sydney over the next 6 months and then down she goes. Yes Paul I'll be around either way.

Melbournes' boom has started later than Sydneys' so the growth hasn't compounded as much. It may still, but all those off the plan inner city unit buyers with a completion date in late 2002 early 2003 are in for a rough ride.
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Reply: 2
From: H T

The only property that I know of in Melb. that has gone down since it was built, some 3 years old, is that concrete slab rubbish at south bank.

meet the slums of the decade 2020

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