What drives property prices up?
JOBS
The availability of employment is inextricably linked to the
property market, because without a job it’s pretty difficult to pay a mortgage.
Mining towns in Western Australia, and to a lesser extent in
Perth, are the perfect example. When there were loads of high-paying jobs
available, house prices and rents went through the roof. As the boom came off
the boil, so too did the housing market.
This also explains why Sydney and Melbourne have been our strongest markets historically, as these cities are where the headquarters of banks, media outlets and other corporate giants are located.
INFRASCTUCTURE
Roads, public transport, schools and hospitals, community
centres, places of worship,...
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