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Is housing becoming too expensive in Australia?

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Sam Saggers, Is housing becoming too expensive in Australia?

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Sam Saggers, Positive Real Estate, Is housing becoming too expensive in Australia?

Australia today has a small workforce, it has a small population, it has a large land mass and actually a high cost of labour and a high cost to build property. So people often say to me, "Are we in a property bubble because housing is so expensive?". If you look at any urbanised country around the world particularly it's driven by affordable labour forces - cheap labour essentially. Cheap labour can deliver less expensive house prices. Today house prices in Australia are as affordable as they have been in years. In fact wages have kept up with house price growth. Today the average 24 year old person out in Sydney is making well in excess of $60 000. When I was 24, some 20 years ago, I was making $24 000. So wages have grown, house prices have grown. There's absolutely no bubble. Don't believe the fear paralysis out in the market. Get out there and go shopping and buy your dream property.

Listen to other instalments of The Smart Property Investment Show:
Episode 61: The ins and outs of strata: what buyers should consider
Episode 60: The pros of using a buyer's agent: why this investor brought someone in
Episode 59: How to invest in property as a team: two investors share their secrets
Episode 58: When do you stop investing? The SPI Show answers more listener questions
Episode 57: Wealth creation through property: trends and themes to think about in 2017
Episode 56: The SPI Show accountant reveals all: How to pick your financial team
Episode 55: The reluctant property investor: How necessity drove an 18-property portfolio
Episode 54: The SPI Show Q&A: Listener questions answered honestly
Episode 53: 6 properties in 2 years: how this investor is achieving his goals
Episode 52: Will property prices fall? When? And by how much? What investors need to know
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