Melbourne and Sydney markets not representative of the Australian property market

Comments by Geoff Grover, Coolum Beach and Mount Coolum real estate property expert based on the Sunshine Coast – www.geoffgrover.com.au – 4TH August 2015 The Australian newspaper recent analysis got it right with several articles about the Melbourne and Sydney markets being in no way representative of the Australian market, let alone other Capital Cities. Prices are indeed ridiculous, and rental gross returns are now a low 3% after a long period of 5% plus, and remember this is gross. Never mind, they are going for capital gains. Trouble is, Melbourne and Sydney are unique in that demand is being driven by exceptional economic growth. Perth has its well recorded history, Adelaide is an absolute basket case and Brisbane has lost all its migrant allure with lack of jobs. Recent article on my website details. A looming problem is oversupply of apartments in particular with so many coming onto the market. Again my website provides articles as to why you should not buy off the plan from well respected market commentators. Putting it all together, troubles loom in these hot spots.