This year really has started out as a bumper year in the property market. There’s lots of interest from buyers due to the low interest rates available, and supply is a little down so it’s a great time to sell.
Real experts are predicting that property prices will continue to increase, particularly in Sydney, but not at the phenomenal rate they have been. Last year Sydney property prices increased by 12.4%* , but the experts are predicting a steady 5-8% rise each year for the next 3 years.
So what does that mean for you?
If you want to buy, buy.
Make it happen.
Whether it’s your first home, investment property or you need to upgrade, talk to me!
Here’s some figures to think about:
- Median apartment price in Sydney is $750,000**
- Waiting one year, that same apartment would cost an extra $37,500 (based on 5% increase).
- Wait two years and it will cost an extra $76,875! (5% increase year 1 + 5% year 2)
- That $750K apartment is now over $825K!
It takes a lot of hard work to save the extra deposit required to cover the difference.
Rates are great, lenders are competitive. Prices are only predicted to go up.
Come and see me, call me, send me an email… whatever works for you, I’m happy to get this ball rolling so you can lock in a loan and go out and confidently buy your first/next/investment property.
* CoreLogic RP Data
** http://www.realestate.com.au/neighbourhoods/sydney-2000-nsw as at 2/3/15
