SYDNEY’S REAL ESTATE MARKET IS ON THE BOIL
It’s been an really exciting period in the Sydney property market over the past quarter with the RBA deciding to hold interest rates at 60 year lows of 2.5%, driving investor sentiment and property demand. Stock is being absorbed as property demand increases.
A solid insight into market conditions provided by RP data this week indicates that for the year to date Sydney property values have increased by 11.6% with an annual change being the highest in the country at around 9.9% growth. (Source). Last week alone, the final clearance rate of Sydney properties hit 79% compared to the same period last year of 54% and the average time on market (listing to contract) being just 28 days for homes and 26 days for units.
Foreign investment in the Sydney property market continues to rise. Investor numbers are now up 20% compared to the same time last year. Although First Home Buyers (FHB) interest has decreased nationally, this has NOT been the case in NSW. Whilst capital growth is expected to continue, this is NOW an opportune time to take advantage of the current property climate.
For those interested in capitalising on their property investments, Infinity Property Agents are committed to assist you to achieve the highest possible return.
Call Michael on 0411 641 662 to discuss a confidential, no obligation appraisal of your property.
Infinity Property Agents – Sydney