2024 so far Sydney kickstarted this financial year at new all-time highs as the median price reached a new record in June following a 0.5% growth during the month. Sydney's property market has risen by 28.2% since the onset of COVID-19, marking a 6.3% increase during the 2023/2024 Financial Year. Since early 2023, the growth has exceeded expectations despite high interest rates and the cost of living crisis. This resilience can be attributed to one simple factor: the ongoing shortage of available properties. Forecast Property prices are forecast to rise over the 2025 financial year, although the pace of price growth is anticipated to be slower compared to the 2023 calendar year and the 2024 financial year. Sydney house prices will be at a new record high by the end of the 2025 financial year if the forecast growth of 6% to 8% eventuates. If you have any questions on the real estate market or if you are looking to buy or sell, please contact me. I would love to be of assistance to you. Edward Brown Principal, Belle Property Bondi Junction
RkJQdWJsaXNoZXIy MTI3ODI1