What’s ahead in Sydney property market?

The turn in Australia’s housing markets has been remarkable, with the rebound in prices considerably stronger than many expected.

What’s ahead?

House prices across all our capital cities are expected to grow over 2020/21. The combination of lower interest rates, easing lending serviceability buffers and increased consumer sentiment is expected to bring more buyers back into the market.

 

  • Continued strong population growth will be another key driver supporting our property markets.
  • Net overseas migration is forecast to average a net inflow of 243,000 people per annum in the next 3 years and most of these people have jobs and are at household formation age.
  • New dwelling building approvals fell by 19% in 2018/19 and the forecast number of dwelling completions are likely to fall to 163,500 by 2020/21.
  • Despite the price correction in 2017-18 and a further lowering in interest rates, affordability remains relatively stretched in Sydney.
  • The fact that Days on Market and Vendor Discounting is dropping and auction clearance rates are rising are all positive signs for Sydney property market.
  • International interest from tourists and migrants continues.

It is a great time to look at buying an investment grade property in Sydney and take advantage of this new property cycle.

*source Property Update

Posted in Buy, Latest news, News, Sell on 9th January, 2020