Where the Sydney property market is heading in 2013
Enjoy the season!
I just wanted to take a moment to wish you a very happy and safe holiday season.
With only a week to go until Christmas, the year has ended with great news having the RBA issuing yet another rate cut this month.
I am now seeing home loan rates at levels not seen since 2009. This coupled with the stronger numbers over the past few weeks I have seen at open inspections, which looks to be a good start for 2013.
A recent survey from Mortgage Choice has found 68 per cent of people believe Australian property prices are set to increase over 2013 or remain stable. Of the survey recipients, 39 per cent of people intend to buy over the next two years with the largest response coming from investors, being 49 per cent of this total.
If you’re worried about the economy, have a read of the latest Monetary Policy Decision on the Reserve Bank’s website at https://www.rba.gov.au/monetary-policy/rba-board-minutes/2012/04122012.html.
It should put your mind at ease as it clearly explains why they’re cutting rates – and it’s certainly not because the economy is falling into a hole!
As the holidays draw near, take advantage of spending some of your spare time considering how you can leverage the current market conditions to build wealth for the future. If you’re personally in a good financial position, with a secure job, then don’t let the economy hold you back from buying property. I feel we’re in the final stages of a buyers’ market and prices are only going to rise (not dramatically, but in a reasonable fashion) from here.
Finally, being my last entry for 2012, I would like to take the time to say thank you for your support over the year and allowing me to be of assistance for any property finding, both residential and investment properties.
Wishing you all the best over the festive season and here is to a great 2013 ahead of us all!