This is the time to get out of property investment in South Africa, rather invest in Australia where there is a continious growth in property prices.
House Price Growh March 2010 - March 2011
Sydney: 0.8
Melbourne: -1.1
Brisbane: -3.6
Adelaide: 0.9
Perth: -3.2
Hobart: 0.6
Darwin: 0.5
Canberra: 1.1
Not exactly scintillating growth is it? The 3 quarterly growth (Dec 2010 - Mar 2010) is decidedly worse.
3 comments:
Anybody "investing" or buying property today must start reading newspapers and some blogs on the internet.
The price of an average property in a country will go down until it has reached an "equilibrium" of app the average income of that country divided by 3 - 3,5.
Read Steve Keen: http://www.debtdeflation.com/blogs/2011/04/01/this-time-had-better-be-different-house-prices-and-the-banks-part-1/
Don't you mean multiplied by 3 -3.5 ?
Tie me kangaroo down luv, tie me kangaroo down!
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