Property market sentiment has been turning quite quickly since the election gave way to some positivity. This week, the media is even going so far as to announce that the slump may be over:
Property Slump Nears End as Sydney Prices Snap Two-Year Decline
Property recovery starts in Sydney, Melbourne
Sydney and Melbourne property prices rise for first time since 2017
From The Urban Developer
“Sydney’s market recorded a slight rise of 0.1 per cent, the first monthly increase since its market peak in July 2017, according to Corelogic’s home value index. While Melbourne’s dwelling values, up 0.2 per cent for the month, haven’t recorded a rise since its market peak in November 2017.
In response to Corelogic’s house price data, Capital Economics has weighed in, forecasting that house prices will see a rise in 2020 as the market reaches a trough by the end of this year. “
Unfortunately, not everyone is benefiting from the good news, and things not as great for our west coast cousins:
Perth property values nudge 20 per cent decline since peak in 2014, CoreLogic data for June reveals
House prices did actually fall nationally: House prices rise in Sydney for the first time in two years, but still fall nationally
Nevertheless, with another interest rate decrease, and recent loosening of restrictions, the stage is set for investors to re-enter the market, and others agree too: “Bright outlook” for property investment
In other news:
Property developer John Gobbo sets new inner west property record
Home loan interest rates will stay lower for longer — here’s why
Mortgage lenders offer 40-year home loans for first time buyers
Have a great week everyone!
PS. If you are looking at purchasing a new property, do get in touch as we have plenty of options available for both first home buyers and investors, across Australia.
