Well what a couple of weeks at PK Property exchanging the following properties. Please note some properties are confidential and are not able to be reported) Please stay tuned for many more purchases over the next two weeks that are presently being negotiated.
Recent PK Property Purchases
5d/22 Ross Street Waverton for $2,650,000 asking $3.2M end of last year.
74 Ben Boyd Road Neutral Bay $2,410,000 saved $90,000
16/11-13 Holborn Ave Dee Why $540,000 saved $20,000
7/5 Osborne Road Manly $775,000 saved $30,000
3/10 Muston Street Mosman $770,000 saved $30,000
1/139 Pacific Parade Dee Why $500,000 saved $15,000
304/732 Military Road Mosman $810,000 saved $40,000
69 Brisbane Street Bondi Junction $1,040,000 saved $30,000
74/19-23 Herbert Street, St Leonards $785,000 saved $20,000
It's been record after record, at PK Property over the last 2 months with close to 5 months worth of new clients coming on board in 6 weeks.
With auction clearance rates over the last three weeks being over 70% there is no doubt we are heading into the next capital gain phase of the property market.
With Sydney's Median House price in 2012 recording its highest record yet $656,415 and apartments also at a record median of $475,314 and all other capital cities remaining below their previous house price peaks, it shows once again that the Sydney property market is always rock solid through the good times, and the bad.
With historically low interest rates at present, a rising share market, China's recovery, and global financial markets easing, there's no doubt this year will be the year of recovery for the Sydney property market.
Please be aware everyone stock is really tight once again, because there was so many buyers that couldn't find what they wanted in spring last year. These buyers are on a mission to purchase in 2013 and you will find that there will be more aggression and competition from buyers this year, which will force prices up.
PK's Property Market Predictions
If we were to wave a magic wand over the whole property market in 2013 I would say the capital gains are going to be in the vicinity of 5 to 7% in the lower end that is from $500,000 to $2 Million.
In the prestige end of the property market I believe that will start to wake up from it's coma, pushed by a stronger stock market, and gains of 2 to 5% could come into play.
PK's Hot Tip
When you are preparing to buy a property make sure your finance is approved and up to date. When I talk about up to date I mean make sure you check that the loan you went for has not expired, some last 3 months and some 12 months, and all banks have different expiries and therefore you might have to apply again.
Another tip would be if you are looking at getting in at the bottom end of the property market to benefit from the capital gain that is about to happen in the Sydney market, do it now.
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.