Market Update
Stock remains low - gain access to the huge number of off-market properties where opportunities do exist
Areas Served: Eastern Suburbs | Lower North Shore | Inner West
Copyright © 2022 by Tracey Chandler - Buyer's Agent in Sydney. All Rights Reserved.
339 Oxford Street, Paddington NSW 2021, Ph: 0416 100 839
"NSW Highly Recommended Buyers Agent Award"
Sydney Property Market Growing Relentlessly
A few strong statistics
A year-to-date jump of 16.8% saw Sydney median prices touching $929,000. This is beyond what CoreLogic RP Data and Domain Group had envisaged for Sydney. 48,623 houses were sold between March 2014 and March 2015 and this figure indicates a 4.3% rise.
You can read the original article here.
The question of affordability
Sydney is beating market predictions at will. Affordability has long been a debate for the Sydney property market but we fail to ruminate on ‘real’ prices when we talk about the subject of affordability. Unless adjusted for inflation, no price can be a true barometer of its times. If the price to buy a property in Sydney has increased, so has the ability to pay. Hasn’t our household income increased over the last few decades? Hasn’t our purchasing power grown?
Sydney’s gallant run should continue
I think Sydney is still sailing close to the property fundamentals and the market is not nearing any kind of a boom phase. In actuality, what seemed to be a massive growth in prices in the year 2014 was only Sydney’s effort to compensate for a decade of plateau-prices. Our growth looked so good because it was coming in after years of real estate lethargy. In my view, Sydney will keep giving us pockets of outstanding growth (as is being presently witnessed in the Eastern Suburbs and the Western Suburbs) even as its other areas will consolidate the overall capital growth figures.
What kind of growth do you expect Sydney to post in the year 2015?
Related posts: