Pete Wargent for the Property Update produces yet another profound article focusing on the property market cycles and the way Sydney has handled them so far. Auction clearance figures in excess of 80% for four weeks running, cannot be a flash in the pan performance.
With interest rates prophesied to stick to 2.5% till at least 2015, Sydney should keep adding to its laurels from here.
Interest rates are running very low, especially since the cuts last week, but it does not give a single sleepless night to Commonwealth Bank chief executive Ian Narev. Alistair Walsh for the Property Observer writes that Mr. Narev is not bothered at all about the fiscal policies adopted by the RBA.
A shift in lifestyle choices has contributed greatly towards the increasing popularity of units in Sydney. Presently, they have become the premier choice of dwelling hunters, surpassing the traditional craze for houses. An article on the website news.com.au talks about the shift in consumer preference and the reason behind it.
Various factors work together in making this spring a time to cherish for the Sydney property market. Michael Yardney for the blog Property Update opines that housing affordability, consumer optimism and low interest rates are working in sync to promote the buoyancy which this capital city is witnessing.
Low cash rates, made even lower by the latest RBA cut may trigger the housing market towards a bullish zone. The euphoric mood also results from the wonderful postings by the auction market. Pete Wargent for the Property Observer talks about some 90% auction clearance rate in Sydney’s inner west area.
The process of buying your first home may involve an amount you have never spent in your life; a kind of cost which makes diligence doubly necessary.
Ideally, you should be observant about every little detail. Let me take you through the different areas which may turn into pitfalls on a later day if left un-negotiated.
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