It has been a busy start to the new year in the Sydney investment property market as good quality properties are being sold quickly to eager buyers – sometimes at their full asking price.
I’m not yet sure whether this strong buyer demand will be maintained throughout the year – or whether the strong results from sales early in the year will induce others to list their properties for sale – providing some increased supply to keep prices more in balance.
As I have previously reported, the Australian residential property market has fared better than several other markets internationally over the last 20 months. Several local market watchers (professional and amateur) saw this as being in part due to the government’s housing stimulus for first home buyers – and predicted that the winding back of these subsidies would have a slowing effect on property markets – particularly the first home buyer belt, which in Sydney is the A$500,000 to A$650,000 segment. […]