Further to our update last week on the Property Market.
We were pleased to see some more commentary from other property industry players who have similar sentiment. This is a quote which we thought summarised the position well:
The reality is, there are a vast number of different property markets within Australia, and hundreds of different sub-sections within these, all of which are at different points in their property cycle. Take Perth and Brisbane for example. These residential markets are near the bottom or showing initial signs of recovery – a far cry away from the current situation in Sydney and Melbourne. Even our own government and government agencies are guilty of this generalisation in their policies that affect the property market. You only need to look at recent lending regulations (and APRA changes in particular) to know this national outlook doesn’t work. The next policy with national impact is negative gearing. When are we going to realise this and move away from the blanket approach?
Source: Damien Collins, Momentum Wealth, LinkedIn Post 27th March 2019
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