Sydney’s property market recovery accelerated over the June quarter, with Domain’s latest house price report finding the city’s house values gained $77,000 (5.3%) in just three months.
That’s four times faster than the March quarter and is the steepest quarterly gain since late 2021.
Taking the two consecutive quarters of growth together, Sydney house prices have now recouped $97,000 of the $151,000 value they lost during the recent downturn.
Where to next?
This is a link to a poll
This is a link to a poll
I have been asked this so many times -
Buy to Invest or Buy to Livein ?
My answer?
Both options are good and it depends on your circumstances , what you can afford, goals , view of the property market on 20 years and propensity to take risk !
When we decided to enter the property market , we could only afford to buy a 1 bedder, but wanted to live in a house!
My wife wanted to buy
I wanted
We decided to buy an investment property 35 years ago . And over the years - instead of paying off the loans - we have acquired a portfolio of properties - all geared - and still rent !!
The retirement strategy - sell a few to pay off the mortgages and live off the rents of investment properties!
Is this the right strategy ?
Not sure - but it was a plan - we made a decision and we took action !
This strategy has enabled us to buy our own home if we so desired (however, we are happy where we live)
Are we financially better off with buying investment properties ?
I think so :)
Both strategies need the following priorities
If you are looking to enter the property market these are the 5 things you need to do
Buying your home is an exciting adventure and it’s potentially the most expensive and potentially valuable decision that you will make!
I would be delighted to sit with you and help you model a few scenarios - and of course help you find the right loan !
Ask me a question . I am here to help
#property #realestate #investment
#buyersfirst #10x
The stunning turnaround in house prices hides some worrying issues in the housing sector and the broader economy says James Thomson of afr
Property has increase 3pc since February
Does this mean the economy is in a healthy position?
Immigration
James Thomson is saying that property prices is not reflection of the economy - which seems to be struggling - but a result of Immigration led demand, low listings and Ltd supply of new stock ……
And yet
Isn’t this a good thing??
Inflation is not seeming to stop the spend !l- so government is increasing interest rates to try and stop the spend !!!
Is inflation such a bad thing? Is it not just a reflection of growth?
Not sure why the government is trying to stop inflation and growth?
What do you 💭 🤔 think?
Signs that banks will soften lending standards and a return of China-based buyers are combining to push property prices higher again.
James Kirby of the Australian 7:41pm May 22, 2023
In my view, this bodes well for increases in Australian property prices over the next 10 years
The question to ask is
If you believe property prices will increase 2pc per annum or by 10pc in the next 5 years…. You should look at buying an investment property.
REA Group Senior Economist Eleanor Creagh says selling conditions have “picked up this year” amid stronger housing demand and four consecutive months of home price increases. Auction activity is relatively strong with around 2000 properties going to auction per week with clearance rates at a 15-month high of 75.3 per cent
National Australia Bank’s Market Research desk reports this week that “property prices continue to rise with some degree of acceleration
The latest CoreLogic figures for the residential market show that Sydney residential prices are now up 4.8 per cent since the beginning of February
Over the next 6 months, we will be hosting a series of property companies, builders and developers to share there opportunities with you.
Let me know if you would be open to being invited to these forums!
Have a great weekend !
Some indicators of the Australian economy from Ark Total Wealth’s Chris Magnus
Aussie Exports may have a windfall - with China easing restrictions on Aussie exports - Coal, Barley, Wine and Timber - Particularly as most of them have found other strong markets over the last few years, exporting to India, Japan, South Korea instead, so any extra exports to China will be just a bonus.
Currently at an all time low … less than 4%
Fewer people are selling - immigration growing - pressure on rents dues to lack of property supply … indicating property prices will increase with inflation
Continuing to grow - with SGC rising to 11%
Share market
Global shares - hitting a peak of 4,818 in aug 2021 before dropping down to 3,636 at the lows. It has then since recovered back to 4,151 today.
Asx200 - hittkng a peak of 7,632 dropping to a low of 6,407 recovering to 7,345 today.
Where to from here ? Up or down ?
Chris Magnus’s gem
Increase your income, spend less, save more and invest the difference to build your future wealth.
Here is Chris Magnus’s article
https://mailchi.mp/arktotalwealth/financial-planning-update-april-23?e=cf6b747540
Where to from here ?
If you want a referral to Chris and his team - for an obligation free chat let me know
