Buyers Spring into action!
Richard Matthews Real Estate
Real Estate, Property Investment, Real Estate Agent
Spring has certainly sprung and just as Sydney's weather is heating up so too is the prestige property market. Buyers are encouraged to act now as competition is set to intensify.
Sydney's median house price has jumped 1.4 per cent in six months and according to Andrew Wilson at Australian Property Monitors, the market was ''in the best overall shape for years''. Dr Wilson expects the prestige market to ''tick upwards'' over spring, helped by the recent lift in the sharemarket.
Head of Investment Strategy and chief economist at AMP Capital, Shane Oliver said the evidence was starting to build, with auction clearance rates, prices and housing finance commitments ''trending up''. ''Life should be a bit better for sellers, but buyers should expect a bit more competition,'' Dr Oliver said. The aim is to buy as soon as possible because he expects prices to rise during spring.
Another factor sparking increased competition is the $7000 first home buyers grant for established homes ending September 30, with the $15,000 grant for new property starting October 1.
Interest in Sydney's prestige market has been solid, with midweek open-home numbers for properties in the $2.5 - $3.5 million range attracting between 30 and 50 groups.
If you are considering buying or selling, now is the time to spring into action! For the attention and result you deserve contact Sydney's hardest working agents at Richard Matthews Real Estate on 9642 4288 or visit www.richardmatthews.com.au
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