Australians, particularly Sydneysiders, have an almost obsessive interest in the property market. In the same way that people in other countries talk about the weather or the stock market, we talk about house prices – normally, to have a good old whinge about how dear they are.
It’s not an unfounded complaint. Sydney has one of the highest median house prices in the world, and other Australian urban centres such as Hobart and Melbourne are fast becoming similarly expensive. As our population continues to grow, and the property market remains one of the safest forms of investment one can make in this country (thanks to a unique cocktail of negative gearing, historically low interest rates and numerous other factors), this trend would seem to only continue.
But 2020 might just change that, as many Redditors have speculated.