A message from John McGrathmageddon himself in his 2019 outlook:
Firstly, I pointed out that in Sydney (and Melbourne), the 5–10% drop we’ve seen so far followed a growth cycle that added 60–100% to property values overall. Many Australians owned property for the entire duration of this cycle and therefore have enjoyed the full benefit.
I suggested he consider shifting his view. In reality, his particular property had gone up by 70% and that included the recent 10% correction in his area.
