Cool little video about Syd living costs: http://au.news.yahoo.com/video/nsw/watch/18957934/why-sydney-is-so-expensive/
Why is Sydney so expensive?
- Thread starter Jake Milne
- Start date
asset price inflation
I would think main reason is SYdney is the main financial hub/capital of australia. Stock exchange is here. Some Major Bank HQs are here. Telstra HQ is here. Heck even the prime minister is here.
Sydney is a nice city, but every city has its own charm. If they moved all these to canberra or any other big city, Sydney would be so much cheaper. (melbourne also has some of the major HQs like ANZ bank and BHP Billiton
Real estate inflation is just a flow on effect from the above as more overseas/local demand/investments are now channeled to Sydney/melbourne. But with all asset inflation, if price is decoupled from fundamentals too much, it will always revert to the mean
IMHO, Just follow the trail of money and wherever it goes you will get more asset price inflation.
I would think main reason is SYdney is the main financial hub/capital of australia. Stock exchange is here. Some Major Bank HQs are here. Telstra HQ is here. Heck even the prime minister is here.
Sydney is a nice city, but every city has its own charm. If they moved all these to canberra or any other big city, Sydney would be so much cheaper. (melbourne also has some of the major HQs like ANZ bank and BHP Billiton
Real estate inflation is just a flow on effect from the above as more overseas/local demand/investments are now channeled to Sydney/melbourne. But with all asset inflation, if price is decoupled from fundamentals too much, it will always revert to the mean
IMHO, Just follow the trail of money and wherever it goes you will get more asset price inflation.
But it's soooo.. unaffordable, and that's not fair.
It is a beautiful city, no wonder it's in demand.
Sydney - showing signs of a huge UPSWING
Recent figures have shown Sydney is ready for a growth spurt like 2001-2003
Recent figures have shown Sydney is ready for a growth spurt like 2001-2003
