Michael Yardney, while writing an article for the Property Update, talks about a few things we have already heard but the perspective is fresh and the article quite engaging nonetheless. According to him, we have just hit the expansionary stage of the property cycle and this will cause a ripple effect. To explain, property prices will grow in the inner suburbs and slowly but steadily capital growth will move outwards, ending in the growth of the outer suburbs.
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Why You Want To Buy In Sydney’s Inner Suburbs
Growth of a country is not the growth of its flora and fauna; it is measured by the rise in its living standards and the sustainability of its economy, among other things. Over a smaller radar, the same rules stand true when you take a look at a city or a suburb. There was a time in the past when the outer suburbs and regional areas were in great demand. In fact, tourists ventured out to grab their investment pies in the regional hotspots. Things have changed and changed a great deal.
Sydney Crosses 80% Auction Clearance 14 Times In Last 16 Weeks
For a few weeks even the die-hard loyalists of Sydney thought that the high auction clearance rates were a flash in the pan. When the rates continued to be impressive, they became a little optimistic, desperately trying to believe in what they were seeing. Today, they are a vindicated lot. For 14 of the last 16 weeks, Sydney has posted higher than 80% clearance rates and this in itself is a record.
Sydney Powers Combined Home Value Growth For Capital Cities
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.
This however is not a barometer for the entire country and the super performance of Sydney alone has masked the snail-pace growth in many major areas. Canberra remains in doldrums and Perth and Brisbane are flattering to deceive most of the times. So to cut the story short, Sydney it is at the helm of the affairs.
All You Want To Know About The Sydney Property Market
In an article for the website Property Update, George Raptis offers a few brilliant insights into how the property cycle will move towards its peak and what may be the immediate and distant implications of the apartment boom.
Sydney Posts 4.3% Housing Value Growth
If I were to use the racing jargon, I would say that Sydney is simply cantering away from its rivals. Recording a 4.3% growth in median house prices for the September quarter, the harbour city has well and truly raised its tether and also raised the bar for its peers. Toby Johnstone in an article for The Sydney Morning Herald observes the trend.
