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NSW: Property prices have been falling faster in Sydney’s priciest regions

Property prices have been falling faster in Sydney’s priciest regions while holding firm or even rising in some cheaper areas during the coronavirus pandemic. The Sutherland Shire and Hills district recorded the largest falls in property prices for the month at 1.5 per cent and 1 per cent, respectively.  “The markets that led the last (surge) are recording bigger falls … they had the biggest run up in values and it may not have been sustainable,” he said.  The eastern suburbs – Australia’s priciest housing market – was an exception to the trend, with values rising 0.5 per cent over May. Mr Lawless said he doubted there would be an acceleration in price falls over the coming months because too few homes were being listed. “The supply of (available) properties is low. This appears to have insulated prices,” he said. The longer-term outlook was less certain, he added. “It will all depend on the economy … if there is further weakness in the labour market and we see an increase in distressed sales it would affect the property market.” Get full details at: x Home price falls: Properties in higher-end Sydney ... Property prices have begun to fall marginally after being surprisingly resilient during the COVID-19 crisis, but homeowners in some surprising regions have taken a bigger hit.
MD Emren
MD Emren
3Hr ago 8 Views

NSW: Construction work on a metro line connecting the Western Sydney Airport at Badgerys Creek to St Marys will begin before year’s end

Prime Minister Scott Morrison on Monday said the metro line would be complete and operational when the under-construction airport is inaugurated in 2026. Preliminary construction begins this year and the major works will start in 2021. The metro line will run from St Marys train station, to the airport’s north, via Luddenham and Orchard Hills. Commuters would then have to switch to the existing train network for onward travel to Parramatta or the Sydney CBD. Morrison said the government would continue looking to expedite infrastructure projects amid the COVID-19 pandemic. Gx Construction on Sydney metro line brought forward The prime minister confirmed when building works will begin. et full details at:
MD Emren
MD Emren
1D ago 34 Views

Sydney: Homeowners are being urged to sell now or regret it later

There were around 300 auctions held across the city this weekend, an unusually low number for this time of the year, and the lack of seller competition helped many vendors get well above their reserves. Comparable properties were selling for the same price in February – before the COVID-19 crisis began CoreLogic data showed the Sydney auction clearance rate was 65 per cent last week – level with long-term market trend. Weekly clearance rates have been consistently above 60 per cent since on-site auctions were allowed to resume four weeks ago. “The market is very strong at the moment,” Mr Wise said. “Most buyers are looking to the long-term. They know properties in the area will hold their value.” Eight of the registered bidders submitted offers, with auctioneer James Keenan receiving an opening bid of $1.4 million. The bidding was fast-paced, rising in initial increments of $50,000, and some bidders put in offers simultaneously. Source: x Homeowners urged to ‘sell now’ as vendors net ... Homeowners who have been deliberating about whether to sell have been warned that delaying could be a pricey mistake following some surprising results at weekend auctions.
2D ago 134 Views

NSW: Good accountant in Western Sydney

Hi Can anyone recommend a great Accountant in Sydney (Western Sydney preferred) that specializes in property and is personally active in property development?  TIA
2D ago 6 Views

NSW: Sydney still offering value for first-time investors

“Bricks and sticks” construction in Sydney’s suburbs are not only cheaper for first-time buyers, but they also are in growth areas, meaning they create stronger investment opportunities.  “Land supply has been a big issue for affordability. Now that we have the infrastructure with government coming in and the land opening up.” “These areas such as South West Sydney are the real growth corridors,”  “So, for an investor that wanted to get into an investment for say $600,000 but wanted good capital growth, they should look at areas like Elderslie, Spring Farm, Marsden Park, Box Hill,” Source: x Can investors get a home in Sydney for under $500k... Investors who are concerned they will be priced out of Sydney are being advised to look a little further out, with Sydney’s surrounding suburbs still offering value for first-time investors.
5D ago 59 Views

Sydney: 5 most affordable waterfront suburbs

Buying a house in these suburbs can easily cost you over three million dollars, something most people just can’t afford. However, this doesn’t mean that a waterfront property has to be completely out of reach for you. For buyers and investors looking for a more affordable region, the Sutherland Shire might be the ideal choice. So here are Top 5 waterfront suburbs of Sydney: 1. Cronulla Cronulla Beach is definitely one of Sydney’s most popular and well-known beaches. With something on offer for every kind of person, Cronulla is popular with tourists, families, young professionals and retirees. 2. Jannali It could also be an option for investors looking for a lower barrier to entry. Houses are considerably more affordable in comparison to Cronulla with a median of $958k. 3. Bundeena Bundeena is a small suburb in the Sutherland Shire that makes an ideal option for those wanting close proximity to the outdoors. You’ll be surrounded by the Royal National Park and a number of different beaches. 4. Woronora Woronora is known for the pristine Woronora River that runs through the suburb. You’ll find views throughout the area, even from homes that aren’t right on the waterfront. 5. Bonnet BayLast but definitely not least, Bonnet Bay is also located on the Woronora River. Despite being in close proximity to everything you need, the suburb is filled with nature and is perfect for anyone who wants to enjoy the outdoors. Get more details on: x Top 5 affordable waterfront suburbs to look at aro... February 19, 2020 - Real Estate Investing Advice & Strategies From Experts You Can Trust. Here you will learn more about
6D ago 7 Views
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