Forecasting Sydney’s real estate market direction is always a precarious undertaking. Often times, various fundamentals don’t seem to support the relentless climb in prices that we’ve seen over the last few years – and indeed, as a whole over the last two decades.
One of the key idiosyncrasies of the 2016 market was a shortage of stock in many areas. Although this market makes for good selling, in many instances people elected to stay in their homes for fear of having to buy in a market that has seen prices moving so quickly.
SOME OPPORTUNITY FOR BUYERS.
It does seem as though some relief may be on the way for buyers at some stage in 2017. Interest rates appear to have bottomed out and the trend seems to be pointing in an upward direction.
Banks are tightening their lending requirements, making it more difficult for buyers without meaningful deposits to enter the market. Additionally, restrictive policy towards foreign buyer lending, coupled with a tougher stance from Chinese banks on capital outflows may have an impact on price growth as the year unfolds.
If you’ve been looking for a buying opportunity, 2017 may well be the year – and having an experienced Buyer’s Agent at your side, can have a significant impact on both your time and purchase price.
Contact us today for a no-obligation chat about what you’re looking to buy.