This is echoed in house prices rising in Sydney by 0.9 per cent in January and is forecast to rise to 8 per cent for the year ahead. This is sounding a bit reminiscent of the peak in 2017 where property prices on average were increasing 1.5 per cent a month.
After attending numerous auctions in the last three weeks, we can see buyer confidence has returned and not even the heavy rain has kept buyers from participating in heated auctions.
However, we are still experiencing a shortage of stock which in turn has an influence on prices.
More stock will result in a steady market. Low stock results in buyers getting desperate to buy when ‘they’ need to and the ‘knock on effect’… increasing prices.
If you are indecisive or keep missing out at auction, now may be the time to engage a buyer’s agent. We can help you understand the true value of a property and give you a competitive advantage in a changing market.
With the momentum in the market of 8 per cent in the first month with no signs of slowing, your budget may not buy you what you want in a couple of months. Having a buyer’s agent on your side helps accelerate the buying process and helps you achieve your property dreams a lot sooner.
If you’re looking to buy or sell and you want some expert advice, call Amanda Gould on 1300 447 732 or Tony Day on 0413 696 722.
Buyer’s agent can make dream reality
WE have had a strong start to 2020 with last Saturday’s auction clearance rate sitting at 80 per cent.