Post to Facebook on 15/4/19 at 11:25 AM
Commenting on “RBA warns on debt, falling house prices”
https://www.smh.com.au/business/the-economy/australia-s-housing-slump-fuels-slowdown-concerns-20190412-p51djt.html
Posted to The Age (12/4/2019) on 12/4/2019
Commenting on "RBA warns on debt, falling house prices"
https://www.smh.com.au/business/the-economy/australia-s-housing-slump-fuels-slowdown-concerns-20190412-p51djt.html
Go back to history in the mid-70’s, one specific 3 BR property in Nunawading, Victoria was 28k. When news of the 7km extenstion of Eastern freeway between Springvale to Doncaster was rumoured but not yet confirmed in the mid-90s, the value if same property jumped to $120k, it was then sold for $138k in 1999. At present, the property is value at $985k. There is hardly any improvement done to the house.
The mathematics shows even ignoring the negative gearing, the first 20 years since mid-70s, the property value jumped by 5 times, and the following 20 years, more 7 times. Comparing the current value and the value in the mid-70s, it is now worth 35 times.
Thank you for reading.
Commenting on “RBA warns on debt, falling house prices”
https://www.smh.com.au/business/the-economy/australia-s-housing-slump-fuels-slowdown-concerns-20190412-p51djt.html
Posted to The Age (12/4/2019) on 12/4/2019
Commenting on "RBA warns on debt, falling house prices"
https://www.smh.com.au/business/the-economy/australia-s-housing-slump-fuels-slowdown-concerns-20190412-p51djt.html
Go back to history in the mid-70’s, one specific 3 BR property in Nunawading, Victoria was 28k. When news of the 7km extenstion of Eastern freeway between Springvale to Doncaster was rumoured but not yet confirmed in the mid-90s, the value if same property jumped to $120k, it was then sold for $138k in 1999. At present, the property is value at $985k. There is hardly any improvement done to the house.
The mathematics shows even ignoring the negative gearing, the first 20 years since mid-70s, the property value jumped by 5 times, and the following 20 years, more 7 times. Comparing the current value and the value in the mid-70s, it is now worth 35 times.
Thank you for reading.
