“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.
To say that Sydney’s rental market has exploded in recent years is an understatement.
Sydney and Melbourne (and precisely in this order) are leading the recovery of the Australian property market. Capital city home value growth, many thanks to them, has shown a combined hike of 7.9% over the last year.
The rental growth bandwagon for Sydney’s Eastern Suburbs has come to a bit of a decline. However, the overall growth rate of 0.8% cannot be thought of as portentous because it does not have to do with any fundamental deficit. Jonathan Chancellor for the Property Observer explains the conundrum.
