Can capital city house prices go much higher?
The idea of property prices blowing out to 20 times average income, Brisbane property prices doubling or Australia having the world's most expensive property market seems fanciful - but is it?
"If Brisbane property prices doubled in 10 years we would be in some sort of dystopian economic nightmare." (Image source: Shutterstock.com)
This headline could equally have been “How much crazier can things get?”
It was prompted for me by a recent conversation with a long standing real estate agent friend, who (perhaps overly enthused at the prospect of Olympic real estate gold for Brisbane) suggested to me that house prices could easily double in Brisbane in ten years.
I was shocked at the idea.
“How could that possibly happen?” I asked him.
Here’s why I was sceptical, and it ap…
