“The Sydney market is most of the way through its sales cycle and very near the top of its cycle. My view is there is no bubble and no chance of a 40% correction.” said Mr McGrath
“The market continues to have strong drivers including deep demand, populations growth, overseas investment and low interest rates. There is a possibility of a small and short correction of a few percent, and I believe that is healthy for the sustainability of the market.
“Yes Sydney is overvalued compared to other areas of Australia, however, it is a world class international city and a major financial centre. I’ve long said that South East Queensland is undervalued and shows great growth potential.”
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