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Inner city ‘the future’

INNER city housing was the way of the future, according to IPAC securities founding director and Channel Nine Money Show host Paul Clitheroe.

“You don’t need to be Albert Einstein to work out where the people of the future are going to live, the dreams they will have and what two-income families will need,” Mr Clitheroe told a recent Australia-Israel Chamber of Commerce luncheon.

“You all know full well what they need.”

He said retirees were going to live closer, near facilities, water and beaches.

“Young, two-income families are not going to have seven children and live an hour out of the city with a Hills hoist and a quarter acre block of land,” he said.

Mr Clitheroe believes that in the global environment, with job pressures, two income families, divorces and break ups, inner city living will become more popular.

“People are going to look to moving closer to work, nearer to work and have flexible hours,” he said.

“In places like Adelaide and Hobart, the only places you should invest in are old age homes because they will have no one left soon.”

He believed Perth was doing well.

“I think the resource sector keeps you young. But any community you go to where you can’t find anyone under the age of 30 with an IQ of over 100 you know that community has a problem,” he said.

“You start losing your young and you will start losing your property values.

“So it’s not hard to work out where property in Perth is going to do well.”

He said he would buy an inner city house in Sydney, Brisbane or Perth and go to Hobart to “enjoy the fruits”.

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