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Robin

Robin

NSW: Top 10 predictions for Sydney property market in 2020

23D ago 0 Replies 97 Views
Australia’s most-talked-about property market, Sydney, looks to be heating up at the moment, with a 5% gain in median home values over the three months to 31 October 2019.
That’s according to CoreLogic’s latest Home Value Index, which shows the rises in Sydney drove an average quarterly price increase of 2.9% across the nation.
But on an annual basis, Sydney’s median prices are still down 2.5%, and down more than 10% from their peak just two years ago.
While the general trend in house prices seems to be up, there are many other political and economic factors at play that will continue to impact Sydney’s property market heading into the new year.
CEO of real estate group Starr Partners Douglas Driscoll has released his annual property market forecasts for Sydney in 2020, with first home buyers, apartment construction and stamp duty featured in his predictions.

  1. Prices to increase by 5-10%
  2. First home buyers to enter in their droves
  3. Listings to remain low
  4. Properties will be bought quicker
  5. Royal Commission into apartment construction?
  6. Houses to get smaller and smaller
  7. More unique houses
  8. Refinancing to remain strong
  9. The rise of ‘exurbs’ and
  10. Stamp duty to be reviewed

Details inside:

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