People continually ask me whether I think property will continue to increase over time. The answer is always Yes. Some interesting fact on sales for the past year.
- Almost 20% of all houses in Australia sold with a price tag greater than $1 million. That is all houses including those outside of the capitals.
- Almost 25% of all houses in Australian capital cities sold with a price tag greater than $1 million. That is around a quarter of all houses!
- Only 5 years earlier less than 2% of all houses in Australia sold with a price tag greater than $1 million
- In Sydney 50% of all houses sold with a price tag of over $1 million
The sale prices seem to just continually increase. With a continuing growing population and limited usable land, there is no reason why this value increase will not continue.
