RH ASHFIELD Monthly Property Newsletter 2017
WHAT GOES UP, MUST COME DOWN!
Latest housing forecasts by research group BIS Oxford Economics reveal that Sydney home prices have peaked and will drop roughly 5 per cent over the next two years before inching up the year after.
This would mean today’s median-priced $1.2 million house would drop about $60,000 in value over the two years before recovering $10,000 to be worth $1.15 million in 2020.
While the peak in the Sydney market was driven by investors, the crackdown in the lending environment now has meant home buyers will move from "investor prices" to "owner-occupied" prices.
On the flipside, SQM Research director Louis Christopher still sees a great opportunity for first home buyers. Suburbs where typical prices were under $650,000 are properties first-homebuyers will be able to purchase without paying stamp duty.
While we spring forward into Daylight Savings, now is a timely reminder to change your smoke alarm batteries and help save lives. Pass it on to your family, neighbours and friends, too!
Our Sales and Property Management Teams are ready to assist you on 02 9799 2999 or [email protected]
5/26 pembroke Street, Ashfield $981,000
68 Constitution Road, Dulwich Hill $965,000
6 John Street, Ashfield $2,400,000
14 Russell Street, Denistone East $1,575,000
608/17 The Esplanade, Ashfield $774,000
1/33 Gordon Street, Burwood $810,000
54 Ken Tubman Drive, Maitland $1,162,000
33 Wearne Street, Canterbury $1,190,000
3 Ormond Street, Ashfield $3,825,000
5 Ormond Street, Ashfield $3,825,000