WHAT’S HAPPENING IN OUR MARKET? Sydney’s home values continued to increase throughout 2024, as the increase in properties hitting the market for sale has been met with strong buyer demand. However, greater stock for sale, affordability constraints, and the sustained higher interest rate environment have contributed to a sharp slowing of price growth in the last few months. It’s likely that certain types of properties will outperform others in Sydney in 2025. The ongoing preference for space, especially among families, means demand for quality houses in established, affluent suburbs will remain high. Eastern suburbs like Randwick, Coogee, and Maroubra continue to be sought after by families due to their proximity to the CBD, beaches, quality schools, and lifestyle amenities. They offer strong long-term growth and steady rental demand. WHEN SHOULD YOU BUY? Many people try to wait for the ideal time to buy from a market timing perspective. This is extremely difficult and as we have seen in recent years, even people who study the market in detail can get the outlook very wrong. Long term, it generally makes a limited difference anyway given how property markets perform over time. In terms of ease of purchase however, a slower market is easier to buy in as you can take your time to make decisions. While a slow market is an easier one to buy in, it is interesting that historically, first home buyers tend to be more active in overheating markets, or when first home buyer incentives are particularly generous. The best time to buy is when you are ready and the earlier you buy, the easier it is to build wealth long term and at the very least, have paid off your mortgage by retirement, if not earlier. If you’re considering a move, buying or selling, give our expert team a call. We look forward to helping you realise your property goals. Phillip Elmowy Anthony Vella Alex Santelli DIRECTOR DIRECTOR DIRECTOR
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