In this week’s property news, it’s all hot, hot, hot! Things are really looking up for Aussie property right now!
Auction market stays hot as dilapidated properties sell under the hammer in Sydney
Sydney auctions run hot as FOMO fuels the market
This has no doubt been buoyed by low interest rates, which are are also a hot topic right now
Will interest rates fall to zero?
Why now is the perfect time to pay more on your mortgage
And whilst the apartment market has faced some challenges, it is still likely to benefit. This is directly from the well-regarded Terry Ryder of Hotspotting:
“I’m expecting uplift in apartment markets in the major cities as we transition into the New Year. It’s clear from the evidence that’s emerging week by week that the post-boom correction that afflicted Melbourne and Sydney has run its course and recovery is real.”
Uplift in major city apartment markets coming: Hotspotting’s Terry Ryder
The good news is too, there are ways to protect yourself when buying into an apartment
The 10-point checklist to protect yourself against a cladding nightmare
Despite some uncertainty regarding the economy, it does not mean that investors should rule out activity either: How property investors can take advantage of ‘dicey’ conditions
Meanwhile over in WA, there are fears about what new stamp duty plans could do to the economy.
Leaked property industry letter: Labor’s stamp duty plan could ‘compromise jobs’
“The property industry has warned the state government’s plan to kickstart WA’s construction sector by paying stamp duty rebates to investors buying off-the-plan apartments might “compromise jobs”
Finally, here is an article with some property predictions for next year. Things are looking up!
10 Sydney property market predictions for 2020
We’re keeping a close eye on the First Home Buyer Deposit scheme too, so stay tuned so we can keep you up to date!
NAB to implement First Home Loan Deposit Scheme
First Home Loan Deposit Scheme not ‘top of mind’ for buyers, experts say
Have great week everyone!