Mid-market segment to benefit most in remainder of 2013
Sydney’s middling properties, ranging from $500,000 to $1.5 million, could benefit most in the year 2013. Larry Schlesinger for the Property Observer says that they could rise as much as 10% in prices, outperforming the First Home Buyer segment and the Prestige Market.
Sydney property market should overall exhibit a growth of close to 5%. Consumer sentiment sub-index for “time to buy a dwelling” has recorded a leap of 11.2%, closing at 142.7
There are three prime reasons for it
- Buyer confidence at its peak since the GFC
- Low interest rates
- High auction clearance rates
All this should drive dwelling prices in mid-market segment higher.
You can read the original article here.