Look out for 2020! It will be a strong market
First of all, our team at PK Property would like to wish all of our present and past clients, and all the agents that we have purchased properties from this year a wonderful blessed Christmas and a cracking 2020!
This will be my last property market update until February 2020.
With commentators reporting that in November, Sydney had the highest rate of capital growth since 2003, I believe that this will set the tone for 2020.
There is no doubt that low stock levels are fuelling the fire for a competitive market, and therefore causing sharp price rises, but if you are thinking about waiting for the market to go a little softer when more property comes on, think again.
In the blue chip areas of Sydney, you just don't get the quantity of property that we used to get 10 years ago and the agents are now reporting that stock levels in these areas are now down 30 percent year by year.
I think the hype and perception of the Sydney property market in 2020 with the introduction of the first home buyer scheme, reports of record auction results, incorporated with low interest rates potentially going lower, will be just some of the fuel that will see the Sydney property market have a stellar year.
PK's Property Market Predictions
I am tipping that the Sydney property market could very well move 10 percent by Christmas next year.The only thing that will stop the market growing is if another 30 percent of new stock was filtering through the market over this time, which in my opinion just won't happen.
PK's Hot Property Tips
December and January are the slowest times of the year for property transactions but a great time to get your finance approved, do all your research on where to buy, and make sure you are ready and laser focused for February 2020.
Call me today for a confidential chat in regards to helping you purchase your next home or investment property, Peter Kelaher, Managing Director on 0419 200 018.
To check out more of our market updates, hot investment tips and negotiating tricks, click here for our home buyer advice articles or call one of our Buyer's Agents today on (+61) 9960 1066, or email us so we can help you find the right property at the lowest possible price.
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