Hobart’s Elizabeth St around 1910 … real estate prices have come a long way

Yep, Hobart beat Sydney from 2002 to 2017 … see here.

Hard to believe but the story says so. Hobart started from a smaller base, but Sydney is well down the list despite its spectacular prices.

Hobart has of course registered strong price increases over the past year, and its rental vacancy rate is apparently near zero, partly because people are turning their properties into AirBnBs.

But rising real estate prices are only good if you are an investor or home owner. For everyone else, and Australia too on the long term, it is sh.t. Just wait and see …