Hobart Holds Out Against Australian Housing Market Slowdown
We pinned Hobart as a great place to get some short term capital growth three years ago. You can find the interview where Catherine Cashmore discusses it in Episodes 30 and 31 of The Newman Show.
This article discusses the subsequent growth in Hobart and includes comments on our views on investment in other capital cities of Australia - primarily Melbourne and Sydney.
Buyers agent Catherine Cashmore, director of Anderson & Cashmore Real Estate Advocates, said Melbourne and Sydney will still ultimately be better choices for long-term capital growth.
“Sydney always peaks early in the cycle, and then it starts to lose on interstate migration,” Ms. Cashmore said. “And that interstate migration is floods a little bit into Brisbane but…mostly it goes into Melbourne.”
“So you can speculate on other cities, but if you’re looking for a good long-term hold then go for a good piece of real estate in Melbourne and either sit on it or develop it.”
Read the full article here