In his latest Ryder Report, regular observer Terry Ryder takes on the so called “national property boom”.
Unlike some other property commentators, Ryder doesn’t believe Australia is in the grips of an emerging bubble or boom. Here are his 20 reasons why the country’s boom isn’t over yet.
For the market to bust, there would have to be a boom, and Ryder doesn’t think we have one – outside of Sydney, anyway. He’s previously criticised media outlets and institutions like the Reserve Bank of Australia for focusing too much on Sydney’s market when generating national commentary.
According to Ryder, any claims that Sydney’s boom is over is “based on a single month’s data”, a criticism he’s stated before. He says: “buoyancy remains in Sydney’s market”.
Ryder says that a growing number of Melbourne suburbs are seeing rising sales activity, with even greater price rises likely to come.
While the other Eastern Seaboard capitals are yet to reach their peak, Ryder says Brisbane is just getting started. “Brisbane is well behind Sydney in the current cycle and is only beginning its upward movement,” says Ryder. He predicts prices will rise this year.
Ryder believes Adelaide “will be the surprise performer of 2014,” with increasing sales activity across the city.
Despite “being ignored in national assessments”, Hobart’s market activity is also beginning to pick up, believes Ryder.
Although the city’s sales have “plateaued” after a strong run in 2012 and 2013, Ryder thinks they remain “elevated”, with possible future price growth.
Despite signs of a slowing market last year, Ryder says Darwin appeared to pick up in late 2013 and early 2014. He believes prices in the city are likely to keep rising.
Ryder thinks New South Wales’ regional centres have picked up some heat from Sydney’s market, or have their own local reasons for growth. According to Ryder, “their run is just beginning”.
Cairns, Toowoomba, the Sunshine Coast and the Gold Coast are leading the state’s regional cities into “strong growth phases”, according to Ryder.
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