Sydney: The Housing Bubble Trouble
Housing Bubble, one word that has been a headache for the Australian Real Estate market for quite a while now. The sharp increase in housing prices has affected the whole country and some cities seem to be more affected than the others. Furthermore, Sydney is the most risk-prone ones. Looking at the numbers, Sydney is currently one of the top four cities in the world that are most affected by the Housing Bubble trouble.
Experts say Sydney seems to have had an approximate 50 average percent increase in the house prices that are within the bubble risk zone. The city that was 4 years back somewhere near the bottom of the list of Asia-Pacific cities and has now managed to top the same.
Since 2012 the city has seen a sharp 45 percent increase in the prices. Though this year, the increase seems to be quite slow. Adding more to it, foreign investors, especially China have ignited the prices even more.
It’s a wave of global correction and Sydney seems to be sitting in the front row. The city has seen an increase of around 3.6 percent this year which seems slow for a year but at a cumulative view, this gets larger. The housing bubble seems to be not bursting anytime soon. As a matter of fact, not only Sydney but the whole Australian Real Estate Market seems to be facing the major blow and needs to handle the situation soon. For more information and updates about the same keep following us.