Financial Times (March 2)
“Surging property prices in recent years has been a common theme for many major cities around the world.” In Tokyo, the difference is “that a longer-lasting trend is driving prices this time. The number of wealthy households in Japan has reached a record 1.5mn as the total amount of financial assets has also risen every year since 2013.” In addition, “demand from wealthy Chinese buyers” is boosting demand.
Tags: 2013, Boosting, Chinese buyers, Cities, Demand, Financial assets, Japan, Property prices, Surging, Tokyo, Trend, Wealthy households
Sydney Morning Herald (July 6)
“Property prices could fall by more than initially feared as the Reserve Bank ratchets up official interest rates to fight surging inflation…. Property watchers were already forecasting price falls of between 15 and 20 per cent in Sydney and Melbourne.” It now looks increasingly likely the price declines will be even steeper.
Tags: 15–20%, Falls, Forecasting, Interest rates, Melbourne, Price, Property prices, Ratchets up, Reserve Bank, Steeper, Surging inflation, Sydney
