Blogs

Bondi Beach is leading a double life. On the surface it’s all sparkly waves, dustings of sand and bronzed backpackers. On closer inspection, the neighbourhood reveals other sides to its personality.

Sydney property has seen significant improvement after two interest rate cuts, tax cuts, reduced uncertainty around housing, more positive media and easing in the overly tight lending guidelines. Buyer competition is revving up, as home buyers are borrowing money and looking for property to purchase, although sellers are yet to catch up with this momentum, returning to the market at a slower rate and creating somewhat of a demand gap.

Market analysists predicated in late 2018 that Sydney property would drop by 30% - 40%, early 2019 saw the market flatten from price drops of approximately 10% in 2018. Since the federal election we have seen confidence return to the market. A combination of maintaining capital gains tax discount and negative gearing, along with RBA rate cuts and some relaxation in lending standards by APRA has resulted in a positive result in the market.

The property boom of recent years and the continued popularity of renovation shows like The Block, fuel the dream to buy property for renovating, and selling at a profit. Investment purchases such as this can be prosperous when property prices are surging, but often, we at Search Find Invest, are asked, “Is this still a viable option in today’s market?” And the answer is, it can be.

More is lost by indecision, than poor decision. I have never met someone who has bought a blue-chip property years ago and now regrets it. The only regret they usually have, is that they didn’t start sooner and buy earlier, when they had the opportunity.

With talk the ‘Property Boom’ is over, and concerns that rising interest rates could make property even less affordable, property buyers we are currently talking to daily, are all asking the same types of questions;