A property investment strategist who has bought homes since the 1970s argues many Australians don t get rich from property because they are too emotional and gave his tips on where to buy.
Rich Dad Poor Dad author Robert Kiyosaki took to Twitter on Wednesday to warn his followers the biggest bubble in history was about to burst with real estate and stocks to take a massive hit.
Robert Kiyosaki, a bestselling author, fears property prices in Australia will crash because of the Reserve Bank pumping money into the financial system during the pandemic.
Australians who can t afford Sydney house advised to buy house in another city
Median house price of $1.112million beyond reach of average income earners
Someone earning $89,000 a year could afford a $500,000 Sydney apartment
But apartments don t have the same capital growth as a house with a backyard
House in city like Brisbane or Adelaide near the CBD would have capital growth
Provincial regional centres had 40 per cent house price growth in five years
Inner-ring suburbs are expected to outperform the outer suburbs in 2021 - provided the properties aren t home units.
While regional areas proved popular last year, Metropole Property Strategists director Michael Yardney said houses in inner and middle-distance areas of Australia s big cities were likely to see price surges this year. Properties located in the inner and middle-ring suburbs, particularly in gentrifying locations, will outperform cheaper properties in the outer suburbs, he said. The reason being, Covid-19 has adversely affected low-income earners to a greater extent than middle and high-income earners who are likely to recover their income back to pre-pandemic levels more quickly, while many have not been hit at all.