My Future Predictions for the Property Market in the next 5 years
I am putting it out there. Yes, things may change, but this is how I see the property market unfolding in the next 5 years:
Continued growth in the Brisbane property market. Particularly while it is a lot more affordable than the Sydney and Melbourne markets.
Sydney and Melbourne markets to remain flat. Not expecting much, if any growth.
I will be keeping a very close eye on the construction industry. If apartment building slows and the jobs are not transferred over to infrastructure work, than we could find ourselves in a recession.
The increase in the use of Bitcoin and Crypto Currencies in the Property Market, both in sales and rentals. I am still thinking about how and if this will impact valuations, contracts and pricing.
I don’t expect to see a lot of change in Interest Rates, particularly if the market remains flat. Not more than a 1% rise.
Adelaide to continue on at its current pace – slow and steady.
Perth to rebound at some stage. It could be 2 years away, unless it finds itself in a mining boom.
Some of my predictions may not pull through as the market is changing all the time. Thanks for the opportunity to put it out there.
Like myself, I encourage you to keep abreast of the market conditions, follow people you feel have the knowledge and experience, and most importantly people you trust. Be mindful of believing everything you hear, particularly if it’s comes from the media. They may report on a statistic without knowing how the data was collated.
The best way to learn, is to get some skin in the game, by buying your own property investment.