McGrathmaggeddon: Sydney/Melbourne property done

Wednesday, 30 August 2017

From McGrathmaggeddon today:

The founder and executive director of McGrath Estate Agents has said that the Sydney real estate market is “at least 95 per cent through its current cycle”.

Speaking at the AussieThink conference in the Gold Coast on Monday (28 August), John McGrath emphasised that there are “two housing markets” in Australia, and that he believed that the one that incorporated the two major cities of Sydney and Melbourne was at the end of its cycle.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.