RUMOURS of a housing bubble in Sydney with the potential to cause chaos in the New South Wales capital’s property market should not put off buyers in the Swan Hill region.
This is according to Member for Mallee Andrew Broad, who has put out an “open invitation” to home buyers to check out the country life.
Federal Treasurer Joe Hockey came under fire last week for comments advising first home buyers to “get a good job that pays money” to realise their dreams of owning a home.
The comments came in the discussion of a “property bubble” in Sydney — where median house prices have reportedly reached nearly $930,000 — preventing new home owners from entering the market.
Looking to the local area, Wood and Co managing director Brian Wood said prices in the Swan Hill region market have seen minor increases over the past six months.
He added any ‘bubble’ that may be affecting the Sydney market would probably have little effect here.
“I think it probably could be a dangerous time to be buying houses in Sydney, but I think the Sydney market is completely different to the Swan Hill northern Victorian market region,” Mr Wood said.
“The comments that sometimes come from metropolitan areas — they don’t understand that the whole world is not in the same economy as them, we are not in a housing bubble in northern Victoria.”
For more on this story, grab a copy of Monday’s Guardian (June 15).
