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The Australian property market 'isn't overpriced'

Australian property is not overpriced, John McGrath has claimed in his latest blog.

The Australian property market is not overpriced, real estate expert John McGrath has claimed.

 

 

Writing in his latest blog, the founder and chief executive officer of McGrath Estate Agents, said that every now and again "so-called property experts" claim that property in Australia is about 40 per cent over priced.

 

 

"It's not my intention to criticise people for having a view. I'm just encouraging you to look at our history, look at the present and try to foresee the future trends," he claimed.

 

 

Mr McGrath went on to say that he has been in real estate for almost 30 years and is yet to experience a market that has fallen more than 20 per cent.

 

 

He added that, usually within nine months, any market losses tend to have been regained.

 

 

Mr McGrath's comments somewhat support those made by the Real Estate Institute of Victoria recently.

 

 

It said that the property market is bound to fluctuate over the short term, but that this will rectify itself in the long term.

 

 

Posted by Steve Douglas 

- property, sales, prices

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