Rising interest rates and the crippling serviceability gap - between households’ borrowing capacity and dwelling sale prices should be causing a dampener on housing prices - but they are not!!!
Aspiring house buyers in Sydney are becoming priced out from the cheapest segment and
buyers will need to look towards the city’s outer fringes to afford an entry-level house - says Nila Sweeney of the AFR
But there are still some gems to be had!!!
In the last 12 months - a client has purchased a sub $1m property in the inner west while another has just purchased one in potts point ! Says Ivan Kaye from BSI Finance .
Lloyd Edge, buyers’ agent and author suggests Coogee, Kingsford, and Kensington are hotspots for 2024
Nerida Conisbee, chief economist at Ray White, suggests the Hills District and southwestern Sydney.
Mathew Tiller, LJ Hooker Group’s head of research Dee why is a hotspot - where units dropped 8pc last year and Glenmore Park where prices have fallen 2% to a million
Leanne Pilkington, CEO of Laing and Simmons suggests buying outside Sydney - consider infrastructure and growth in a location when investing she says - look at where the Metro is expanding - from Tallawong all the way to the city with places like Five Dock .
Leanne says to focus on what is going to meet the needs of your family in a location that’s important for you!
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