When is a good time to buy?
One of the major considerations that is often not fully appreciated is the issue of supply, in other words, when is there a reasonable choice of properties available for purchase.
Historically this popular inner-city market has a very low level of stock, which is often frustrating for buyers, given that demand is mostly consistent throughout the year and even during the peaks and troughs of the property cycle.
If you are in a position to buy now or in the near future you would be taking advantage of a current spike in the supply of listings. This is largely seasonal due to Springtime being considered historically as one of the best times of the year to sell.
Throughout this year there has been many reports about the heat in the Sydney and Melbourne markets.
Here in Sydney this “heat” has begun to dissipate, a trend that commenced approximately 2 months ago. I consider that we are now experiencing fairly normal market conditions. So I believe it is a very good time to buy, especially given the low interest environment that we are experiencing.
Market Update While the winter blues may be sending a chill through parts of the Sydney property market, the prestige section remains a sunny story. Take for example, a stunning and unique waterfront property our office is offering for the first time in 20 years in beautiful Elizabeth Bay. House-like … Read more
Market Update Sydney property prices continue to surge upwards, with high auction clearance rates and strong demand fuelling the market. “The housing markets in Sydney and Melbourne continue to defy belief,” National Australia Bank chief economist Alan Oster told Fairfax media recently. Australian Prudential Regulatory Authority (APRA) chairman Wayne Byres … Read more