The housing market in Sydney is clearly moving lower.
Sydney property prices are now 4.2 per cent lower than in June 2017. Our harbour city is leading the country’s property downturn.
Nobody has a crystal ball. However, given the volatile state of the Sydney housing market, the stakes are getting higher.
Are you sure you are investing in a recession-proof home?
Let’s find out.
Thinking of buying a home or investing in a property? There is always that chance you end up buying a bargain property.
Buying for a much lower price, however, often comes with surprises. There are basically three terms you will hear when it comes to low priced properties in Sydney and elsewhere in the country:
Let’s have a look at these in turn, and what to be aware of.
It is through a home inspection that you will find out if the property you’re eyeing is well maintained and structurally sound.
Hiring the right home inspector for the pre-purchase inspection is important to make sure the home doesn’t have hidden issues that will end up costing you more.
You need an expert to identify potential issues in a home, and whatever the home inspector discovers will work in your favour significantly.
In an article on ABC news, business reporter David Chau turns his attention to Australia’s housing market.
According to the latest Demographia rankings, Sydney is the second most expensive property market in the world.
But a local Australian housing market expert disagrees.
At some point you may want to sell your current home or investment property. We all want to maximise the value of our homes.
It might be surprising to know that there are some renovation projects that can decrease your home dramatically. Hopefully, you still have not done any of these things.
Luckily, if you are thinking about improving your home, there are some renovations that can increase your home’s value quite significantly. Let’s have a look at what those are.
At the end of the article I will also share with you the biggest value killer.
“Location, location, location” may be the undisputed mantra of real estate everywhere. But if Carolyn Cummins’ piece on the state of Sydney’s market is anything to go by, “timing, timing, timing” is equally appropriate.
In her recent report for MSN.com, she points out that “The appreciating dollar and new taxes have not deterred overseas investors buying up luxury homes in Melbourne and Sydney.”
And this is why, if you’re thinking of buying real estate in Sydney’s Eastern Suburbs, the time may be right now.
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