NSW Sydney Update Please

If we take a 3 bedroom townhouse, the general price range is between 500-600k and renting between $450-$500.

Some have gone for more, but with many investors out of the market there is less demand to keep prices elevated. Only time will tell how the market changes over the next few years.

 

Got this in email exchange with a Western Sydney agent in early December:

"The market believe or not is quite strong still. We have exchanged 7 properties this December to date alone and we are still flat out. Maybe this is all the buyers trying to buy before the year is out. Most of these homes sold at or above the listed price as well.

They are taking a bit longer to sell though and I do think the market has levelled out.

Who know what will happen next year only time will tell."

 

Seriously, i do not see much stock at this price.

Regards

 

Believe it or not, but people are also buying to save 5k in the govt. Grant.

Consider yourself spending 500k in order to save 5k. Seems illogical.

That could be a potential one of the reasons.

Regards

 

There is no grant on established properties