History leaves footprints of proof. When studied from a perspective of understanding cause-and-effect, history provides appreciation, knowledge and a platform for enhanced decision-making skill.
A parcel of interesting life lessons left by history were included in a keynote presentation that I recently delivered at a conference.
Forty-eight (48) of the finest property professionals in the country recently participated in a 3-day conference hosted by Real Estate Buyers Agents Association of Australia (REBAA) on Hamilton Island.
Below are some of the Fun Facts from my presentation.
As recently as 70-years ago, 8 out of every 10 households in the National Capital were rented. Today, the ratio of rented versus owner-occupied dwellings in Canberra is on par with the national average.
Over the last 50-years, four of them produced capital growth rates of circa 30 percent. Extraordinary stuff!
75 percent of the population of Victoria is situated in the state’s capital city, but it has not always been that way. During the 1850’s, only 20 percent of the state lived in Melbourne.
The Victorian township with the highest median house value is Lorne, population of just 2,000.
Not only is it one of the most beautiful cities in this country and the producer of the highest quality food and booze in the world, Launceston is one of Australia’s most historic cities.
This country’s 4th oldest city presided over many ‘firsts’ including the installation of town sewerage and administering anaesthetic for pain relief.
If we split the last 100-years in half, Launceston’s population increased 2.7-times during the first 50-years followed by 0.47-times over the last 50-years.
The cost of a standard Launceston house increased 5-times and 52.5-times, respectively, proof that population growth and house price growth are not directly connected.
It’s not that long ago that Port Hedland, with a population of just 15,000 people, had the highest median house value in Australia.
While the preferred band for inflation is between 2 and 3 percent, Australia has frequently been well above that band.
The notion that rising cost of living puts downward pressure on real estate values is not supported by evidence. In fact, some of the biggest property booms ever seen in Australia have coincided with inflation of double-digit rates.
40-kilometres west of Sydney’s CBD is the municipality of Blacktown. Just 90-years ago, it was mostly farmland. Today, Blacktown is a very high-density community with a population that is similar in size to Canberra.
The density of Sydney has increased at such a rapid rate that, for the last 30-years, a large majority of new homes built were apartments.
Referred to as the ‘South Coast’ until circa 1960, Gold Coast has evolved at a faster pace than any other Australian location over the last 50-years. For every 10 households, only 5.5 of them are now detached houses.
Imagine paying just $750 for a new house in Southport (in 1937).
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