If you want to profit from property, don’t get into development

Property prices across Australia have exploded this year. The median Sydney price, in particular, increased 22% over the past 12 months and now tops $1 million. It’s a wonder that even the locals can afford to live there.But this situation is more unusual than it seems. More than 70% of the increase in borrowing for housing has been by investors, which now account for more than 40% of the market. Compare this to the USA, where at the height of its property bubble in 2007 investors still only accounted for less than 20%.What’s more, over 90% of borrowing has been...

Property prices across Australia have exploded this year. The median Sydney price, in particular, increased 22% over the past 12 months and now tops $1 million. It’s a wonder that even the locals can afford to live there.

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