Property Will Be the Safe Haven Moving Forward - Watch it Go
The stock market crash this week has only shown once again like it did during the GFC that property is safe, secure and reliable over the long term.
Over the last 4 weeks we at PK Property have bought over $25 million dollars worth of property everything from multi million dollar houses in Mosman to apartments in the East, and houses in the Inner West and Northern Suburbs. With interest rates now going now where fast, the property market is set to have it's little party yet once again.
There's no doubt that the upper end will still be a bit sluggish moving forward mainly because the people that are buying in that market are mostly in financial services and that industry unfortunately still has a lot of insecurity around it at present.
The property investment market is going to go crazy from here because at present you are guaranteed 4 things;.
1. Literally no vacancy for your investment with vacancy rates sitting around 1%
2. A near guaranteed rent increase year on year for at least the next 3 years
3. Guaranteed a capital gain even if it's small
4. Interest rates now look as though they are stabilising
Please note everyone stock is getting really low in parts of Sydney at present, and I am hearing through agents with only a couple of weeks to go before spring that they are not getting called into any new listings. It's going to be a tight competitive spring and with school holidays interrupting the selling cycle you might as well get house- hunting now.
PK's Sydney Property Market Predictions
As I said still a sluggish market for over $2.5 million dollar purchases but under that good family homes on the Upper North Shore, Lower North Shore, Eastern Suburbs and Inner West will be in hot demand.
When I said good family homes I mean nothing with warts on them, they will need good floor plans, descent block sizes, facing the right direction/s and close to transport.
The investor market for units in these locations price ranges between $500,000 to $750,000 will have huge demand because of a terrible lack of stock, and investors flooding back into the property market because of the stock market crash. Overall all looking good for the property market over the next 12 months.
PK's Hot Tip
It's time to invest and upgrade, becuase you will start to see the market get a little more competitive from here until Christmas.
If you would like to receive PK's Sydney Property Market updates, hot investment tips and much more please click here Or call one of our buyers agents today on (+61) 2 9904-3444 or email us so we can help you find your next dream home or investment property for the lowest possible purchase price.