It is said that investment in Australian real estate now exceeds $6.4 trillion whereas by comparison investment in Australian superannuation is around $2.3 trillion. The median house price in Sydney increased by 8.4% in 2015 in comparison to the 10 year annual average which is 6.2%. The average annual increase in Australian units was 11.5% whereas the average annual over 10 years was 5.8%.
These facts were contained in a presentation given to some of our lawyers by a representative of the Real Estate Institute of New South Wales at a recent conference. The general sentiment was that the current real estate boom in Sydney will taper and perhaps fall in some suburbs of Sydney where there has been substantial development whereas growth is likely to be maintained in stronger suburbs.
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