sydney

Australia News

Sydney House Prices are “Extremely Inflated,” According to a UBS Report

Despite recent declines, a global investment survey by global bank UBS determined that Sydney’s real estate prices remain “very expensive.” The current annual UBS Global Real Estate Bubble Index did not classify the port city’s real estate market as a bubble. Still, it was nevertheless priced substantially over its fair value. The analysis cautioned that the global housing bubble would soon pop. The analysis found that property price rises in the 25 cities analyzed reached their most significant level since 2007 and household debt increased much faster than the long-term average. It was stated that housing prices had diverged from

March 8, 2024 No Comments

News

Top 5 Australian cities foreign buyers are eyeing

Foreign buyers flock to Australian cities for its resilient economy and good trade relation Thanks to Australia’s resilient economy and good trade relations with other countries, it’s become a great destination for foreign investors and buyers. The country offers a wide variety of investment options in a large number of different industries. Some of the reasons why Australia is a popular choice among foreign investors include: Australia’s property market has shown consistent growth. Even during the Global Financial Crisis of 2007-2008, Australian property prices continued to increase, unlike the property prices in the UK and the USA which went down. Australia

February 14, 2024 No Comments

Finance

Asian cities dominate GFCI 29

New York, London, and Shanghai maintain the top 3 spots followed by Hong Kong, Singapore, Beijing, Tokyo, and Shenzhen The world’s financial systems are starting to stabilise with vaccines being rolled out on a daily basis and things are going back to normal. The pandemic had a significant impact on financial markets and this is reflected in the latest Global Financial Centres Index (GFCI) where Asian cities dominated the rankings. Of the top 10 financial centres, only Frankfurt’s rating improved by 12 points, while the other hubs dipped in ratings. Overall, the index scores are lower compared to 2019, but the average

February 12, 2024 No Comments

Australia News

Sydney Housing Crisis: 35% Increase to Renters

Millie Bannister was already worried about the rising cost of living in Sydney when she got a note from her landlady proposing a 35% rent rise. The 26-year-old executive director of the mental health organization Allknd says the rent rise will alter her lifestyle and career goals, prompting some to suggest that the state government should set price limits. Moreover, she said it was raised by $60; the new rise is $270 per week, or 35%, or roughly $12,000 annually. The situation is depressing and disheartening, and almost devastating. Allknd did not think that a typical individual can afford a

February 10, 2023 No Comments