PK's Sydney Property Market Update March 2020
Market to travel strong till the end of the year
Hi everyone and welcome to a week where stock markets crashed, auction clearance rates soared, corona virus reached new levels, and interest rates dropped yet again.
I don't doubt that if the stock market hadn't crashed, and corona virus hadn't spread, we wouldn't have seen an interest rate drop this week, or at all in 2020.
The property market has been electric of late, mainly due to cheap money, looser lending criteria, and low levels of stock, and I do believe it will continue to surprise us over the coming months.
My take on how the property market will react re the corona virus and the roller coaster stock market, will be that investors will fly back into the safe haven of property rather than shares, and people won't travel, therefore using that money and time to stay at home, renovate, and plan upsizing and downsizing moves over the year.
We will have our last run of property auctions ending first week in April, and then our big run of stock will not come on again until the first week of May after Easter and school holidays.
PK's Property Market Predictions
The Sydney property market has had the quickest recovery that I have seen in 30 years of being in real estate, therefore, I believe that it will continue to be bulletproof moving forward.
There will be a downturn of stock as normal in winter, but I believe that buyers will be in full force, making this winter one of the best on record.
PK's Hot Property Tips
Underquoting is the worst that I have seen it for many years, so if you are looking for advice on what the true value of a property is and tips on how to secure it over every other buyer, call me today for some free advice.
Call me today for a confidential chat in regards to helping you purchase your next home or investment property. Peter Kelaher 0419 200 018
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PK's Sydney Property Market Video Update March 2020
To view PK's video update, click here.