A BRIEF HISTORY OF AUSTRALIAN PROPERTY INVESTMENT
Australia’s property markets have always been somewhat unique, compared to other developed economies.
For one we’ve demonstrated a historical preference for sprawling outwards across vast suburban housing estates, instead of building towering residential high-rise accommodation centered entirely in and around our major city centres. At least up until recently that is.
Baby boomers have arguably been the most influential generation on the evolution of Australian real estate.
After watching their parents struggle through two World Wars and a Great Depression, older boomers longed for a sense of stability and found it in the ideal of home ownership, which took hold in the collective cultural psyche of our nation.
Buying one’s own home became an aspirational symbol of personal success, as we started to lead the world in a trend of strong home ownership rates that have long hovered around 70 per cent.
The concept of real estate as a tradable commodity really took off late last century, and since the 1980s our interest in property investment has continued to snowball, helped along by various factors that have stimulated strong market growth and investment activity.
Read more https://www.smartproperty.com.au/property-investment/
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