PK's Sydney Property Market Update October 2023
Stock is Tight
Well, we are getting into the thick of Spring and we will know more over the next month in regards to what the true stock levels are, but at present, I do think it's going to be a tight one.
As I expected, interest rates went on hold again today and I think that will be the scenario for the immediate future. With unemployment at record lows and the economy performing well, I think they will keep interest rates at elevated levels for some time yet.
It's all about supply and demand at present. Unfortunately, demand is outstripping supply and I do think that will continue to be the case until the end of the year.
So, in saying that the blue chip areas will continue to rise and the not so popular areas and properties will probably still fall in value or level out.
PK'S Sydney property market predictions
As mentioned, I think the good properties will continue to perform really well from here until Christmas and I think vendors are going to be pretty tough on the buyer's in regards to price.
PK'S Hot Property tips
Don't hold your breath everyone if you see a great property at the moment, I would be buying it. I have now seen the winter buyers that couldn't find anything the last 4 months coming into the spring market with a vengeance.
Please Call me today for a confidential chat in regards to helping you purchase your next home or investment property. Peter Kelaher 0419-200018