Stock is the tightest I have seen it in 16 years
Well it was an incredible week at PK Property last week.
We purchased 2 silent sales, that is properties not advertised to the public market, which was a unit site for $4.8 Million at 5 Belmont Road Wollstonecraft that will fit 25 units on, and also a knockdown house at 7 Pitt Road Curl Curl for $2.2 Million with amazing water views.
We also purchased;
42 Kempbridge Road Seaforth for $1,050,000,
2 Vista Street Balgowlah Heights for $1.8 Million,
153 Tuckwell Road Castle Hill for $822,000,
45 Margaret Street Stanmore for $730,000,
10/101 Wycombe Road for $1,460,000,
8/61 Ryde Road Hunters Hill for $602,000
27/2 Crewe Place Roseberry for $720,000,
9 Lae Place Allambie Heights for $1,070,000
and that's just last week.
PK's Property Market Predictions
The market is just going to go from strength to strength due to a lack of stock in all price brackets, low interest rates and unemployment, and the confidence building of a new government to be elected.
The supply at present is absolutely dire and therefore increasing demand and frustration, which in turn is pushing up prices. If you think spring is going to be thriving with an oversupply of properties think again.
We are now in the next upward cycle of the property market which will gain momentum until atleast the end of 2015. Rents are starting to flatten out but capital gain is starting to kick in, and that's why a lot of people are not selling their investment properties, and why lots of people are buying investment properties.
PK's Hot Tip
This is not a great time to downgrade, but the perfect time to upgrade. You will do very well on your sale at present if you are selling below $2 Million and then upgrading to $2.3 Plus.
If you are looking at getting an investment property at present, you will get your rental increases over the next few years, but where you will really score is in capital gain.
If you would like to receive PK's Sydney Property Market updates, hot investment tips and much more please subscribe here.Or call one of our buyers agents today on (+61) 2 9960-1066 or email us so we can help you find your next dream home or investment property for the lowest possible purchase price.
Also don't forget PK's 2 min video tutorials on youtube showing you hot tips and negotiating tricks of the trade.