t’s a great time for you to start investing in property. But do not leave it too late!
Sydney’s residential sector has been flat for the past two years. But since the start of the year it appears that confidence is strengthening. Auction results are a useful indication of property market activity.
Last Saturday’s clearance rate was a strong 75%. Since the start of this year, auction clearance rates are running at over 70%. This is more than 15% higher than the 55% averaged over the same period in 2012, as reported by Australian Property Moniotors (APM).
Signs of heightened buyer activity have also been met with an increase in the volume of sales within the prestige property market.
The current economic climate has much to do with this recent shift. The factors in play are:
- Low interest rates.
- High rental yields.
- An improved Australian Share market which rose by about 25% over the past 12 months boosting people’s wealth and improving confidence.
- Increased savings since the GFC. Credit card and housing debt are at record low levels meaning that households have more money to invest and spend.
- An improved global economic outlook in China, The USA and Europe.
What does this mean for you as the buyer? It means that property prices are likely to start increasing as demand increases. The longer you delay your purchase, the more likely you will miss out on the upturn.
In this time of increased competition, it is even more important to make sure that you have someone on your side who understands the market and can give you the edge. That’s where Buyers Domain comes in.
We will work for you, finding the best investment for you, at the best possible price.
Be sure you like me on facebook, and follow me on Twitter to get essential property information.
