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In this clip from Sky Business News, David debates the risks surrounding the Sydney property market in view of the strong growth in prices over the past two years.
BetaShares Chief Economist, David Bassanese, debates the AFR’s Chris Joye on Sky Business regarding whether Sydney property prices are in a “bubble”.
BY
David Bassanese
|
14 July 2015
David,
Very interesting to see your views on this, especially that affordability is at the long term average mark in Sydney. In terms of clients I’m seeing day to day, the ones looking are starting to reach the point of apathy around auctions/inspections, but there’s still certainly a lot of demand, given clearance rates.
Where do you feel market will head in Sydney once we come back in to the Spring period?
Marcus
Given interest rate levels, Sydney affordability in general not yet a constraint (in contrast to general media perception) suggesting prices could keep rising. But RBA jawboning and tightening by banks might see investor demand slow. In short, the boom could well continue for a while yet.. decent correction only likely once interest rates rise in 12 months or so.