Once more, Terry Ryder is appealing to the “twits, turkeys and walking talking egos” of the property commentating world to look beneath broad brush averages and see what is really going on in local markets. In his Property Observer column Ryder gets particularly hot under the collar about claims from Sky News commentator Graham Richardson that Brisbane hadn’t seen growth for years.
Ryder points out that the REIQ Market Monitor report shows middle market suburbs have performed quite well. While the Brisbane City local government area median house price rose 7.2% in the year to April, a number of suburbs saw even higher growth with some northside hotspots amongst them:
- Chermside rose 18.4%
- Nudgee 17.3%
- Holland Park 13.5%
- Northgate 12.7%
“If you take the time to look through a report like Market Monitor, there are hundreds of stories about suburban and town markets, all doing different things influenced by local events – oblivious to the level of interest rates or the ignorance of media talking heads or the pompous proclamations of twits working for a bureaucracy based in Europe,” Ryder says in Property Observer.
And the European bureaucracy he was talking about was no less than the OECD. Twits, respectfully, you just got burned.