Before we start to read and think about property investment based on a 12-month view, please do note that any property decision we make must be a much longer term one. Say 5-year outlook? It’s not a one way ticket to untold riches yeah. Anyone promising you untold riches or sky-high property prices in the near future, please stop believing yeah. If that property could give untold riches, he will not promote to you. He will buy it first. Maybe he would have stopped working and go for non-stop holidays instead. Why would he be talking to you and trying to persuade you while you are so sceptical? 😛
Anyway, perhaps this is different for advanced property markets like in Australian cities? Here’s one study very recently on property investment in major Australian cities and it gave the pros and cons as well as ranked those cities too. It ranked them based on a 12-month outlook. Oh yeah, Melbourne and Sydney was not ranked in the top 2 yeah.
Article in savings.com.au Research shows Canberra might be the hottest capital city to buy in over the next 12 months, as the property market enters a post-COVID era. Buyers agency Propertyology has completed a new research report ranking the eight different capital city property markets in terms of their 12-month outlook. Here’s how each capital city ranked:
The reasons why Canberra is top is because of COVID-19 effects; the lack of it. According to Propertyology’s Head of Research Simon Pressley, “Canberra has shot to the top of capital city rankings. The primary reason for Canberra’s housing market elevation is an anticipated lower economic impact from COVID-19. He also said, “Canberra’s economy was already strong before the germ arrived. And with approximately 100,000 of its 213,000 workforce in the public sector, it will be significantly shielded through the COVID job lock-down period.” As for a full and comprehensive report if you are thinking of Australia, please do read the article here: Article in savings.com.au
it’s not looking awesome for all property markets currently, even if Sydney seems very popular from a recent article here: Singapore to Sydney: Buy, Buy and Buy However, I have to say that Australia is a nice place to visit and my many friends who graduated from Australia would tell me that they would have loved to continue staying and working there. I have visited Australia a total of over 30 days. These over a month period is divided into Perth (twice), Melbourne (once) and Sydney (once). Loved those trips and probably taken thousands of photos too.
Beyond knowing that Canberra is the federal capital, I do not know much about it. However, I like Perth because it’s very relaxing. I love Melbourne because of its diversity feel. I like Sydney because of its cosmopolitan feel. So, yeah, I love to visit Australia again. I think my next trip should be to Brisbane. Will explore the possibility of visiting Canberra by flying from Brisbane then. Till then, remember yeah this outlook was based on 12 months. It may continue changing. Happy understanding.
Next suggested article: Sydney: Of property, taxi, train and shopping