Quote:
Originally Posted by OneHungLo
I guess there are quite a few people that disagree with you online about the Sydney housing market and whether it's in a bubble or not  |
Except for the Chinese, immigrants in general come with no money. But they get jobs, they want housing, they want schools and then they want better houses and better schools for their kids... its the same scenario world wide, well except in communist countries of course ;)
As far as the Sydney market goes, those saying its in a bubble.. don't live here, and they have been saying it for the past 20 years. Everyone who comes to Sydney wants a nice place, by the beach in a good suburb, its the Aussie dream! Currently you will need more than 5mill in your pocket to live that. So people " Immigrants ", newlyweds etc get in to the housing market in the outer suburbs.. 50 miles from the beach. And then they spend their whole lives trying to get to the beach. So the local property market is self generating with a natural progression towards the city and the beach.
There's nothing on the forecast to say less people are moving here, in fact its speeding up!
Population projections - Department of Planning and Environment