Boom is over, but not growth cycle: John McGrath

Estate agent John McGrath anticipates it’s going to be a lot quieter on the eastern seaboard property front. 

"While South-East Queensland will continue bubbling away in the early stages of its growth cycle, Sydney and Melbourne have reached the slow down point," he suggested.

"The boom is over but the growth cycle isn’t," he wrote in his Switzer blog. 

He anticipates ups and downs in the monthly reporting of price movements but still some overall annual price growth. 

He noted Sydney property values had risen by almost 50% since mid-2012.

"So if you purchased a property in 2011 for say, $600,000, your property would be worth about $900,000 now.

"That’s fantastic news for people who owned property before the boom but for those who missed the opportunity to buy before the growth, it’s just painful." 

 {mijopolls 127}