This ranking is too high! World house price competition, Sydney third and Melbourne sixth!
"Chinatown"-Official media of Chinese Australians
Australia's housing prices in recent years can be said to be true"Soar", Melbourne and Sydney’s housing prices both ushered in their respective climaxes. Chinese local tyrants flocked to them. As far as the editor understands, 80 Australian dollars are now difficult to find a two-bedroom. But the surprising reality is that Australia’s high housing price growth rate, if compared with the real estate markets of other countries in the world, seems to be just"Guan Gong played a big knife in front of him". Other countries rose even more sharply than Australia.
Australia’s high housing price growth ranked 56th out of 14 regions in the statistics may surprise many real estate investors, but this result is not surprising. Michelle Ciesielski, head of housing research at Knight Frank, said this result can be seen as"Double standard".
"The growth of house prices in the entire Australian region ranks fourteenth. But if only the Sydney area is counted, the top three positions in the world should be appropriate." She said.
"There is a considerable difference between cities in Australia, and this gap is also quite large even if it is placed between Sydney and Melbourne."
As can be seen from the chart above, Sydney’s annual housing price growth rate was 16.8%, compared with 3.2% in the previous quarter. The annual growth rate in Melbourne was 8.7% and the quarterly growth rate was 3.1%. There are still huge differences between the two fastest growing cities.
In addition, according to statistics, the housing prices of Sydney and Melbourne are among the top ten "world's most unaffordable housing prices", ranking higher than the famous cities such as London, New York and Tokyo. Statistics are based on the comparison of middle class income and middle class housing prices. Sydney’s middle class housing prices are 10 times the middle class income; Melbourne’s is nearly 9 times higher, ranking sixth.
It can also be seen from the figure that the top five major cities in Australia all rank top. Adelaide is ranked 14th, Perth is 15th, and Brisbane is 17th.
No wonder Hong Kong people are not happy. . . It was the steady first again, leaving the second place far behind. (17.0 means that the house price is 17 times the income, and I can't live decisively.)
(Table of global housing price trends from 1975 to 2014)
The reason for the soaring housing prices in Sydney and Hong Kong in recent years is actually very simple, simply because the supply of houses exceeds supply, and houses will always sell faster than supply. But unlike Sydney, the Hong Kong property market has begun to show signs of "cooling". The government has begun to control the market to avoid the occurrence of a housing bubble. So the data shows that Hong Kong fell to fifth in the world last quarter, while Australia climbed to tenth in the world.
At the same time, there is also a data showing that high investment from abroad is also one of the main incentives for rising housing prices in major cities, and most of these investors are from Asia. Chinese investors are considered to be the "culprits" of raising housing prices in Vancouver and California. China is the world’s largest investor, with twice as much investment as the United States.Up to 1240 billion Australian dollars!
It turns out that Chinese people are really rich. . . If this continues, I personally feel that the world will be bought by the Chinese. . . Housing prices in countries around the world have been repeatedly raised by overseas investors, and local housing prices in Australia have also kept rising. For many people, this may be an opportunity, but for more people, it may be just a nightmare. Everyone What do you think? Should Australia prevent the arrival of more overseas investors?
News compiled from "The Herald Sun"
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