This week’s edition of property news is indeed positive, with most media outlets announcing that the next book will be arriving shortly:
Sydney’s property market is set for a new boom.
Price rises set the housing market up for another boom
From the SMH:
Sydney’s property market is set for a new boom with an under-supply of homes predicted to fuel a spike in house prices. Clearance rates have been sitting above 70 per cent for seven weeks as a limited number of new properties come onto the market. On Saturday, 734 auctions are scheduled for Sydney in the city’s biggest test of the market since Easter.
Indeed, clearance rates have been very healthy, culminating in last weekend’s records: Sydney records busiest weekend for the year
Real estate agents claimed strong demand continued to outpace supply in the nation’s property capitals because clearance rates were up to 80 per cent higher than for the same weekend last year.
It’s not all good across Australia: Perth’s housing market is still lagging behind — and it will take more than a rate cut to fix things
Today, another rate cut is expected: Mortgage rates to crack 2.5% This is despite the economy is seemingly going well: Truly weird times set to push interest rates below 1 percent
It remains to be seen what will happen next: Concern major banks will not pass on full savings from expected interest rates cut
Meanwhile, in other news:
What it takes to buy property at the end of Sydney’s train lines
$32 billion trap: Banks’ gravity-defying insult to customers
To buy or not to buy? Australian housing prices set to shift
