WHY SYDNEY IS STILL BOOMING
It is almost a monthly sport for the Australian media to drum up speculation that the Sydney property market is on the verge of a crash.
Driving around North-Western Sydney paints a different picture …
CONSTRUCTION BOOM STILL ISN’T ENOUGH
New houses, duplexes and apartment blocks are going up all over Sydney at the moment.
Sydney-siders are now facing dust clouds on every windy day.
And, it’s not just private development that is causing this dust, it’s also the several infrastructure projects currently underway across the harbour city.
The latest statistics from the ANZ and ABS show that despite all of this building, the country is still likely to be short of nearly 250,000* dwellings by the turn of the decade.
* The updated stats were released after the recording of this video.
LOOKING BACK TO 2003
The Sydney property market peaked in 2003 before going backwards until 2009.
During the GFC, prices stared going up again, and by 2012 they were back to what they were in 2003.
Sydney prices doubled over the next five years until 2017.
There were simply too many people and not enough properties.
The construction boom began during this, however, it was too little too late.
Now, in 2017, construction is still booming – and it’s still not enough to keep up with demand.
GOOD INVESTORS MOVE WITH THE MARKET
In 2017, Nathan says he is as cautious and as optimistic as he has always been.
There are always opportunities out there in the Australian market, he says. He retired from his job during the GFC and never looked back. Now, he earns so much passive income from his investments that his role at Binvested is more like a hobby than a job.
He says, as an investor, it is essential to move and grow with the market – which is exactly what he continues to do today.
And, not just the property market, but with the wider economic landscape across the globe.
So, forget the idea of buying and hoping. If you want to be successful as an investor, make sure you know what is happening in all of the markets so you can make an informed decision about what to invest in and where.
Have you been following the markets? What is your take on the construction boom in Sydney at the moment? Please share your opinions with us in the comments section below.