- 19 September 2017
- Posted by: niknafs
- Category: Real Estate
What’s Happening with The Sydney Property Market?
There’s no denying that the Sydney property market has experienced HUGE growth in recent years.
The growth of the Real Estate market can be traced to a variety of factors including money from overseas investors, especially from China and HUGE demand for Real Estate from first time home buyers.
Great Time to Sell
Many people, especially homeowners, have wondered if the growth of the Real Estate market here is sustainable and the answer to this question is that no one can predict the future, but with 75% increase in Sydney property values during recent years it seems like a daunting decision, so if you’re a homeowner in Sydney and have been thinking about selling your home this value increase can be considered together with many other factors such as number of properties offered for sale around you and prices real estate agents achieve for them.
Excellent Time to Buy in Sydney
Depending on your perspective, now can be seen as an excellent time to start looking for a good deal in Sydney residential Real Estate, especially in Western Sydney, where many new developments are finishing construction making it a perfect time to buy apartments because it’s more likely that comparable apartments will cost over $1 million in the East while they may cost $650,000 there.
It seems that consumer sentiment is changing when it comes to buying property in Sydney. This means that there may be fewer buyers searching for homes but that positive side is that less competition also means increased chances of a buyer’s offer being noticed and accepted.
What About First Time Home Buyers?
Over the last two years many Generation Y home buyers have turned to their parents for help with purchasing their first homes, but for those younger buyers who have been unable to buy in Sydney due to unaffordability, they have had to sit on the sidelines and wait until the market cools down.
The good news is that construction is booming in the suburbs and young home buyers may start seeing good deals in outer areas and a good point to start will be areas with suitable transport links into city.
Your Home Value
For a obligation free sales appraisal, or to speak with me about listing your home, contact me today by calling 1300 053 826 or connect with me through this website.
Sydney Aug 2017
Sydney losing steam after strong gains since 2013
Sydney Unit Market:
Sydney unit market seems healthier than of Brisbane & Melbourne, with expected settlement of more than 36000 units in next 12 months and more than 90000 in next 24 months according to corelogic.
Top 5 most search areas in NSW in Sept 2017 are
1) port Macquarie 2) Kellyville 3) Castle Hill 4) Mosman 5) Blacktown
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