{"id":16012,"date":"2021-10-26T13:17:27","date_gmt":"2021-10-26T02:17:27","guid":{"rendered":"https:\/\/www.prosolution.com.au\/?p=16012"},"modified":"2021-10-26T13:25:48","modified_gmt":"2021-10-26T02:25:48","slug":"property-market-crash","status":"publish","type":"post","link":"https:\/\/wealthcoach.com.au\/stage\/property-market-crash\/","title":{"rendered":"Will the property market ever crash?"},"content":{"rendered":"\n
\"property<\/figure>\n\n\n\n

I started ProSolution almost 20 years ago and if there\u2019s been one common theme over that time, it is how \u201cexpensive\u201d property is. This theme can be expressed in many ways such as predictions of property market crashes, housing affordability \u201ccrisis\u201d, comparison of Australian property prices to other parts of the world and so forth. This noise<\/em> is often unhelpful for property buyers.<\/p>\n\n\n\n

The reality is that property has always seemed relatively expensive. And it\u2019s probably never going to change. You must get used to it and learn to make prudent decisions despite the prevailing property price rhetoric.<\/p>\n\n\n\n

I felt ill after almost ever property I\u2019ve bought<\/h3>\n\n\n\n

In December 2006, I engaged Richard Wakelin<\/a> to select and purchase an investment-grade property. He ended up buying a single-fronted Victorian cottage on a small block (146 sqm) in Prahran, Melbourne for $723,000. It was a record price for that street (the street is lined with similar Victorian cottages) and probably suburb. Paying a record price didn\u2019t feel satisfying. In fact, it gave me indigestion. J But I trusted that buying an investment-grade asset that possessed sound fundamentals will work out well in the long run.<\/p>\n\n\n\n

This property last sold in August 2019 for $1.362 million[1]<\/a> (unfortunately, I had to dispose of it as part of my marriage separation in 2012). That makes the price in 2006 seems relatively cheap today.  <\/p>\n\n\n\n