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Check your maths Alex.
80,000 x 52 gives me a different answer.
Sydney was doing 6% as far back as 1998.
M
Check your maths Alex.
80,000 x 52 gives me a different answer.
Does anyone notice how Syndey was the lagging partner when compared to Melbourne/Brisbane?
Yeah, that's a good point Bill.
Looking at my Sydney house price chart though, I can see the 78/79 rise. The next one though, I reckon it started the day after the October 87 stockmarket bust, so I get 1987 start, 88/89 boom. The next one, really got going when the tech crash happened in April 2000, but it was starting to run up about 98/99.
http://203.26.51.178/cracker/51242_1.jpg
I know this thread is about Sydney, but does anyone have any historical median data for Adelaide, year by year? (or even other states for that matter)
Andrew.
Link to comparison of capital city house prices below
http://www.somersoft.com/forums/gallery/data/500/Capital_city_property_prices_1993-2006.JPG
Authors and talk show guests (same people really) go to great lengths to to explain the power of compounding and call it the eigth wonder. Clitheroe is the cheer leader.
But I have never seen them do a "what if" which includes a few years of -ve returns. It would destroy the charts which say you can get rich quietly stashing a little away each year with modest return.
No sane (retail) person buys an asset with the thought that "the first few years will be down, but in the long run I'll be dead". OOps, that should read "in the long run (period assumed 10 yrs) we are on a winner!"
I don't buy it.
Re-reading my last post, I missed stating my point "In My Humble Opinion, Sydney property will under perform investment markets in general
Alex, There's a big wide world of different investments out there.
Some ladies with a poor reputation tell me size matters, so with the same disrespect, I'll state timing matters.
Hi agleave,
I hope the following link is what you are looking for.
http://72.14.253.104/search?q=cache...in+australia+abelson&hl=en&gl=au&ct=clnk&cd=7
Then go to "Housing Prices in Australia: 1970 to 2003" page 8.