Property boom on horizon – expert
“A leading property commentator says another property boom is on the horizon and next time the bust could be bigger than the last.
The warning comes as new figures out today show property prices increasing once again.
“It is not a major bubble, nothing like the one that we had five years ago. But there are stirrings, there are froths, there are small bubbles,” says property investor Olly Newland
Mr Newland sees some signs of a bubble in the inner city suburbs, where prices have jumped by up to 40 percent in some cases.
He says if those bubbles pop the bust will be bigger than the last.
“It will be a very messy bust I’m afraid. It will look like the last bust was nothing. It would be very dangerous and I’d certainly be getting out of the way,” he says.
But many estate agents aren’t convinced. … “
UPDATE: The same interview with Olly was folded into another news item for 3News 6.00 pm bulletin, with a more ‘dramatic’ twist: From ‘Property boom on the horizon’ at 7.00 am to ‘Housing bust could be looming‘ (article) | video of 6.00 pm 3News story