- February 5, 2016
- Posted by: Rogers Property Group
- Category: Latest News
Well respected Estate agent and property investment advisor John McGrath anticipates the Sydney and Melbourne property markets will be a lot slower in 2016.
“While South-East Queensland will continue bubbling away in the early stages of its growth cycle, Sydney and Melbourne have reached the slow down point,” he suggested.
“The boom is over but the growth cycle isn’t,” he wrote in his Switzer blog.
He noted Sydney property values had risen by almost 50% since mid-2012.
“So if you purchased a property in 2011 for say, $600,000, your property would be worth about $900,000 now.
“That’s fantastic news for people who owned property before the boom but for those who missed the opportunity to buy before the growth, it’s just painful.”
For those that missed the Sydney and Melbourne markets, there is no point investing in those markets this late in the property cycle. For property investment you are better off going to South East Queensland where the growth will be more sustained over the next few years as it begins its growth cycle and yields are higher.