Market Update 21/04/2017
That was about the best Easter Sydney could have offered weather wise. I hope you enjoyed it wherever you were.
With school holidays still in effect until well into next week the market has yet to hit its stride fully for the ensuing Autumn selling period.
Encouragingly, there has been a healthy amount of new homes listed, a number of which we opened to the public for the first time on Easter Saturday. We will have more to come this weekend as well.
In the past few days over long lazy barbecues, many people have asked me the age-old question about where I saw the market going and if it is reaching its peak. My thoughts for what they are worth are that I truly don't know. We are in uncharted territory at the moment with interest rates so low for so long. Until there is definitive evidence of a concerted move upward in this area I simply can't see prices correcting or crashing as some people have predicted or hoped for.
The main category of risk is clearly the new apartment sector where buying in the wrong building at the wrong time could have severe penalties. Apart from that though the historically chronic shortage of land coupled with the continuing availability of super cheap finance will keep things tight in the near future.
As one buyer asked me this week, "should I hold off buying ?" My instinctive response was simply "what for ?".
This Saturday (22/4/17) we have the following fabulous home going under the hammer :
- 4PM : 77 Cobar Street Dulwich Hill : 2 B/R totally original Semi on huge 518sqm
The property is available to inspect fifteen minutes prior and you are all most welcome to attend.
That's it from me. Have a great weekend and I'll see you next Thursday.