podcast

Is housing becoming too expensive in Australia?

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 89: Renovating as a couple: two young investors share their story
Episode 88: Everything you want to know about the short-term rental market revealed
Episode 87: BONUS EPISODE: Former Olympian shares his property development know-how
Episode 86: How a former Olympian found new sport in property development: Ed Fernon's success story
Episode 85: Q&A session with Paul Glossop – more questions answered!
Episode 84: 'How I overcame dodgy builders to manufacture $100k in equity in less than a month'
Episode 83: BONUS EPISODE: Top Aussie broker’s tips for surviving changes to mortgage lending
Episode 82: The investment strategy that could allow this 32-year-old to retire TODAY
Episode 81: BONUS EPISODE: Secrets of the Perth market uncovered: invest now or wait?
Episode 80: Q&A session: SPI answers all your burning questions
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