Top of the world

A few weeks back I wrote about how older Australian’s are behind much of the increase in spending over recent years.

A few peeps took offence, but most that replied to that Missive agreed.

Since then, further studies show a similar trend, and one bit of interesting data is that around a quarter (27%) of new dwelling purchases over the past twelve months did not involve a mortgage.

Older and in general wealthier Aussie’s are buying homes (and also, largely, driving inflation).

Without wanting to sound like a broken record, but lifting interest rates will do little to reduce inflation without smashing the whole economy.

Rising rates further is akin to using a sledgehammer to crack a nut.

But enough already!

This week’s post is data heavy, comment light.

There are two tables this week.

The first table shows you what $1 AUD million buys you at the top end of the apartment market across a range of selected world cities.

The second dataset outlines past – and my projected potential annual growth rates (guesstimates really) – for top end apartments across five Australian cities.

Also – for those interested – I last wrote about the top end of town here and here too.

Postscript

We are talking about the top end of the apartment market, not an average apartment in a massive “me-too” tower block.  Think boutique project, one or two apartments per floor, absolute waterfront or park front and prime 4Fs – fixtures, fittings, finish and facilities.  Statistically the top 5% of apartment sales by sales price in each location.

…..