Sydney now has the lowest listing rate for Auctions and Low Clearance Rate.Ã‚Â With the clearance now 63% last week, an previous weeks being very similar, the number of listing are continued to be reduced in Sydney.
Last year, clearance was 73% – with far more listings.
Many are predicting the trend of low listings to continue. Prices (Sydney overall) are largely stable, with some downward trend.
Renovation loans are on a steep upward trend, many people seem to be electing to stay and improve.
Buyers need to consider markets overall,Ã‚Â This is a alarming and incredibly interesting info-graphic from CoreLogic.
These are the ‘real’ increases in property price, once you factor in consumer price index (CPI), which measures inflation. CPI increased by 0.4% over the March 2018 quarter to be 1.9% higher year-on-year.
Given this is over 10 years (which is at times considered the period for a property double in price) – this is very surprising.
More than ever, if you are a first time investor, we strongly suggest you get some investment advice. This week alone we’ve hear multiple stories of people over investing in Sydney – and now suffering mortgage stress. Invest Wise!