Winter 2019 Market Commentary
There’s a new confidence in the marketplace
The tell-tale sign is that prices are starting to firm after a 17% decline Sydney wide from the highs of September 2017. And while autumn saw some of the lowest stock levels in 10 years, it helped keep the price decline to a minimum.
If you’re selling, there’s more good news:
- Buyers are now starting to be more assertive in their purchasing decisions, which means a return to a nice balanced market place
- The Australian Prudential Regulation Authority (APRA) plans to turn the finance tap back on by relaxing the loan assessment rate for bank finance applicants. A rate reduction from the current 7% mandatory assessment level will make it easier for purchasers to borrow
- The Morrison Government is planning to support first home buyers with its deposit scheme. This is great news, as more people will feel comfortable buying and selling
Our autumn listings achieved excellent results!
We secured several substantial sales during autumn which resulted in very happy sellers including
- $4.5m at 93 Seaforth Crescent, Seaforth
- A street record for 85 Curban Street, Balgowlah Heights
- $3.87m at 39 Gordon Street, Clontarf
Don’t miss our Winter Collection of coveted homes!
Take a tour of our current collection of beautifully presented and well-positioned houses and apartments, ideal for growing families and downsizers, including a handful of off-market opportunities that can be viewed by appointment.
If you’re considering listing as an off-market property, simply call us on 9948 2020.
The state of the current rental market
Although the rental market has started its slow down for winter, with prices currently up to 10% lower than over summer, we’ve started to see an increase in demand for prestige homes from overseas corporate tenants – a demand we expect to continue for over winter in line with the Northern Hemisphere summer break.
EOFY is coming and we’re here to help
If you would like a copy of our handy End of Financial Year Checklist for Investment Properties, simply contact Tiera or Kamille in our leasing team on 9948 2020.
Now is the time to improve your property
With a fallen market, there hasn’t been a more opportune time in several years to upgrade your current home. Taking into account the price differential between now and two years ago, upgrading can result in savings in the hundreds of thousands.
Considering an investment property? Between now and November is ideal.
Whether it’s your first time or you’d like to grow your portfolio, we’re always happy to drop by to discuss the market and your options for buying and selling.
