Riverview Property Report

Welcome The Sydney property market has been one of the most robust and consistent performers over the last four decades. Sydney’s average capital growth has been 7.4%, meaning many properties doubled in value every decade. So far this year, the market has languished, with little overall growth in the first quarter of the year; however, plenty of transactions are still occurring. The Sydney market is showing signs that the increased stock on the market is slowing price growth. But there is still plenty of growth left. By the end of this year, “overall” home values will likely be 6-7% higher than at the beginning of the year, and unit values will be 5% higher. According to Domain, buyer demand has increased by 9%, and Sydney’s auction clearance rate is also holding up well. There are still not enough good properties to meet the solid demand for houses in Sydney, particularly in the inner and middle-ring more affluent suburbs. With the recent announcement that international borders are opening up, Sydney will be a significant recipient of new residents putting extra pressure on our property markets, particularly the rental needs. Like to know what your home is worth? If you’re like most Australians, your family home is your biggest asset – and yet you possibly don’t know how much this asset is worth. Call us today for an obligation-free market appraisal. Mark Swift Partner | Sales Executive