15 May Weekly property; Royal Commission impact and a perfect storm of negatives
Starting off this week’s round-up with a fascinating read from Domain. Fairfax spoke to 5 experts to find out if the Royal Commission would have an impact on housing prices. Opinions were divided. Here is the full read.
If there’s one thing for certain though, it’s that there are many factors that influence housing prices. And currently, we have been caught in a perfect storm of negative property trends. The commentators and experts are clamouring to tell us about everything causing Australia’s property slump.
Of course, the biggest scapegoat right now, the Royal Commission: Job losses, weaker household spending and downside pressure on house prices: JP Morgan evaluates what Australia’s Banking Royal Commission could bring
That old thorn in the property market’s side apartment oversupply: The Sydney suburbs where auction clearance rates have dropped in 2018
Quality of homes (mainly Sydney data): Biggest price falls were in areas with more rundown homes for sale
In the absence of any positivity, (to be fair, the JP Morgan in the article above report did end on a positive note though), we really wanted to find some good news.
Rents are still good: Record migration drives up rents in popular lifestyle and commuter suburbs
Some measured, positive future predictions: Economist predicts blue skies, no GFC ahead
Other noteworthy news:
Meanwhile, on Yahoo, you can find this great article about Sydney’s hidden gem or ‘bridesmaid’ suburbs as they call them. Don’t forget we still have some opportunities remaining in a great ‘bridesmaid suburb’ too. Located close to Dulwich Hill – for $150,000 less. Get in touch to find out more, or download a fact sheet here.
Have a fantastic week everybody! Stay warm.