NSW Sydney property market hype 2020

Who's planning to do some deals in Sydney this year?

I know some people on PC who actively renovating in Sydney. Maybe they'll chime in.

Who is planning on doing what ( property wise) in Sydney in 2020?? If you can post your deals, even better.

Or tell us why you think Sydney will go absolutely gangbusters in 2020.

#$ydneytomegaboom2020

 

All of Sydney or just Mount Druitt ?#milliondollaraverage2020

 

To keep a long story short, planned on buying a house in liverpool LGA but now considering a unit in my current area (12km from CBD).

A 2 bedder in need of reno in a small block of 4, 500m from the station (600m2 land high density zoning) has just come up a few days before shutdown and its being handled by the agency that manages property for my parents.
No internal shots just what i was told via email.

Agency opens on the 6th and first open house is on the 11th, hoping to get in well before then to see if i can put a decent offer in prior to the official inspection.

If this doesnt work out i will wait till after the first home deposit scheme places are full before looking seriously as i feel this scheme may inflate prices in the short term.
I dont personally feel a megaboom coming though but i need a PPOR incase it does haha.

 

I helped some friends buy similar, older 2 bedders on Croydon Park smaller building. Helped them with a complete gut and reno. They couldn't be happier. They made it look fantastic internally.

 

Am I one of those actively renovating? I have recently settled on a PPOR property needing significant work in the Inner West - however will wait a few months till its all done before posting up the deets. For us its not a matter of whether the market will 'boom', just that the particular property makes sense!

 

You think??

 

Partners mother is buying again in ingleburn, prices are quite reasnoable for what you get and there is money to be made with the recent rezones. She is selling her current house to developers for 1.5 mil. She only paid 320k for it in 2005.

 

Australia’s most-talked-about property market, Sydney, looks to be heating up at the moment, with a 5% gain in median home values over the three months to 31 October 2019.

While the general trend in house prices seems to be up, there are many other political and economic factors at play that will continue to impact Sydney’s property market heading into the new year.


1. Prices to increase by 5-10%
First and foremost, Mr Driscoll expects an increase in Sydney house prices by between 5% and 10% next year, depending on the suburb.

“Price rises might exceed 10 per cent if the Reserve Bank cuts interest rates again – as some are currently forecasting for the near future,” he said.

“As the banks now have their lending restrictions in place, I’m not expecting the bank regulator APRA to intervene in the short-to-medium term.”

Sydney’s house price surge is being driven by a surge in demand relative to supply

Full article
10 Sydney property market predictions for 2020