The Sydney property market is off and racing, but will it stay the distance?

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October property news saw reports of the fast pace in the Sydney property market. The run-away boom has been attributed to strong investor interest, overseas investment and low interest rates – however the pace is unsustainable and analysts are now starting to look at where the peak is and when the market will start to slow.  And the smart investors are also waiting to see what will happen.

 

As houses with very little going for them other than location (and some without even that) such as a rotting wooden shack in Leichhardt that was sold at auction at over $900,000 in July this year, have been breaking records and exceeding vendor expectation, the price of investment-style property (apartments and townhouses) have increased in popularity and are driving demand across Sydney.

 

But according to ANZ bank analysts, property investment is driving over 50% of new property loans and there are fears by experts that the current rush on investment has unbalanced the property field and the inevitable correction will sort out the stayers from those in the field who will pull up short. While banks continue to lend, the RBA is looking to tighten up control on investment lending. However NAB’s chief executive Andrew Thorburn argues that the growth in the $1.3-trillion mortgage market is sustainable. Mr Thorburn has emphasised that many borrowers pay back debt ahead of schedule.  (Full report curtesy of: http://www.smh.com.au/business/property/fears-stretched-investors-may-destabilise-housing-market-20141031-11ermy.html#ixzz3HxAr5FVJ)

 

For buyers and sellers the fast pace and enthusiasm is currently good news – the strong market indicates high demand for housing and rental demand is also staying the distance however as the field rounds the bend and the market stabilises, make sure you’ve placed your property bets based on median returns rather than in the heat of the excitement.

 

For solid market understanding and years of experience, contact Amanda on My Side for inside information on the real stayers in the Sydney property race.

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