More PROOF That Population Growth DOES NOT correlate with Capital Growth.
Brisbane’s had the highest population growth in the last 5 years of all capital cities, 10%!
But capital growth of housing has been a disappointing 15% over the same time period.
Ipswich had even high population growth over the last 5 years, 17%!
Moreton Bay had 12%.
Logan had 10%.
Yet all these areas have had a capital growth of less than 15% over the last 5 years.
Compare this with Noosa. It’s population growth over the last 5 years was just 5%. This is well below the National average of 8%.
But house prices have grown in Noosa by 49%.
Is this starting to make sense?
Are you starting to figure out which agents and companies are trying to sell you properties in locations based on POPULATION GROWTH, but will actually fail?
It’s not their fault. They don’t know any better.
Most “experts” aren’t malicious.
They are just ignorant.
The blind leading the blind.
Don’t be blind. Take off your blind-fold.
I still have conversations with people who have bought through “Buyers Agents” in sketchy parts of Logan, Ipswich (read Springfield, the marketers delight), Moreton Bay (read Mango Hill et al)…
And they are DELIGHTED with the service they received.
This like having a robber come into your home and take your TV, but being thoroughly satisfied that he took his shoes off before entering the house.
What great customer experience.
This is becoming a rant.
But it needs to be.
Because you don’t know what you have bought, and paid $10,000 – $15,000 for the privilege of doing so, until its too late.
If this is resonating with you, then you know EXACTLY what I mean.
Population growth DOESNT matter. What matters is how that population behaves.
And that manifests itself in much more complex metrics.