Market Update
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Sydney’s New Adventure with Median House Prices
Increase in median house values
In a year-to-date analysis, Hilton reveals that Sydney has gained 16% in terms of house values and 9% for unit values. Barring a rejuvenated Adelaide and Darwin, no Australian city has registered a hike in both the values (house and units). To drive home the point, Brisbane suffered a setback in both the values; detached houses suffering by -0.7% and units by -2.3%. Perth witnessed a drop in value of detached dwellings but the units kept stagnant at the last Quarter’s mark.
Economic activity cannot piggyback on low interest rates
With economic activity over the pan-nation scale set to rise, there is no denying a correction in interest rates. It has been low for a longer time than envisaged by the government. In such a circumstance, capital growth in major capital cities is likely to chart the course of local performance. Sydney will lead the other cities, and most of the capital cities will revive and post moderate growth. Melbourne, there is good reason to believe, will outperform other cities but will get eventually beaten by Sydney.
You can read the original article here.
Sydney hasn’t peaked yet
It is being said that while it is still feasible to purchase a property in an inner-city neighbourhood in Melbourne and Brisbane, the same cannot be said for Sydney any more. However, in my opinion, Sydney is riding a wave and the rising prices do not imply that the harbour city has peaked yet. For all we know, it may offer a further 15% capital growth in 2015 and leave the pundits and people at the RBA with mouths agape.
I think a lot of noise is being made about how the properties situation is getting out of hand in Sydney, but for me, purchases, if reasonably negotiated, can still offer smart returns if we stick to a ‘hold’ strategy. I can say this with great conviction for the Eastern Suburbs and more than reasonable confidence for the other areas.
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