History of the property and share markets
It is important that we first look at what has happened in the property and share markets in the past, as history can provide a guide (but not a guarantee) to what might happen in the future. The property and share markets have been operating in Australia for a very long time and there is a plethora of information that we can use to help determine what might be in store for both of these markets in future.
History of the property market
The property market has been around since the beginning of time. Ever since the first cave-dwellers staked claim to their first home, the notion of owning property has been a highly sought ideal through the ages.
In modern Australian history, the property market was established as soon as the first settlers arrived. Many wealthy individuals and companies staked claims to large allotments of land and then proceeded to subdivide them into smaller allotments for housing and commercial buildings.
In the early days it was mainly the wealthy who could afford to own more than one property. They leased out additional properties to poorer households who could not afford to buy their own home, but the Second World War brought many changes to the Australian property market, including public housing, housing for ...