https://propertyplanning.com.au/propertyplannerbuyerprofessor/ In this week's Ep#111, Dave, Cate and Pete take you through: 1. Booms and busts The trio discuss the booms and busts from the years of 2003 to 2020. For each capital city and nationally, they cover the top performing 3 years and also the bottom 3 years during this time. Check out our show notes for a special excel visual with all of the key data. 2. 2003 the star performer 2003 was the best year nationally and made it in the top 3 for each capital city, except Darwin. Although not in the top 3 for Darwin, this capital city still clocked double digit growth for the year. Nationally, price growth for 2003 reached a whopping 19.3%. The trio explore the various reasons why 2003 recorded top results, from availability of finance, movements of baby boomers and first time buyers, the advent of mortgage brokers, introduction of government stimulus and property price stagnation in the years leading up to this boom. 3. 2018 the worst year Nationally, 2018 was the worst year during this period, recording home value declines of 5.5%. Interestingly, this was also the worst year for Melbourne and Sydney, and third worst year for Brisbane, but not for any other capital city. This speaks to the weight of the Sydney and Melbourne market, and their influence on national prices. The trio were happy to blame credit policy as one of the key ingredients for this particular year's woes in the residential housing market. 4. The astounding story of Hobart in 2003 Amazingly, Hobart exhibited median house price growth of 55.3% in 2003. How can that be? The trio discuss the pre-2003 environment on mainland Australia which saw Hobart quickly become a magnet for investors and retirees. As the population of Hobart is so low, any peaks or troughs in interest can have a great impact on property values. 5. Resource markets The early noughties saw the resources sector start to boom, which correlates to double digit increases for Perth from 2003 to 2006 and Darwin to 2007. These cities are greatly impacted by the health of their leading industries, which meant that unfortunately, prices have decreased since, and are yet to reach their previous peak. 6. Adelaide going slow and steady As a capital city, Adelaide doesn't have major economic drivers like resources, which can do wonders for property. It also lacks the overseas interest that Melbourne and Sydney are fortunate to have. Furthermore, if a property investor decides to purchase outside of their own capital city, they generally look to Queensland. The result is that price fluctuations in Adelaide are less severe, and there are only two years where Adelaide has experienced double digit growth. However, in its third worst year, Adelaide still experienced positive growth. 7. The property market is like a garden Just like a garden, there are many factors which determine the health and prosperity of the property market - location, sun, soil, water, plants, environment and the bugs! The property market is multifaceted market, and a micro version of the broader economy with so many inputs and outputs that determine the outcomes. The trio discuss the difficulties in being able to point to one factor which ultimately drives price increases and declines. It's important to remember that the market is not driven by investors, but majority owner occupiers, who are driven by personal factors and emotion. 8. The impact of government policy Arguably, the politicians are the bugs in the garden - which either pollinate to promote growth or eat away at the crop. One factor which always has a hand...