Virtually no property listings last week across Sydney, I think the selling agents have had a well deserved break after making so much money they can barely spend it fast enough. I think 2014 will go down as the easiest real estate market to work in for selling agents that I have ever known. Agents opening properties for inspections and being inundated with offers. Some offers and sale prices were just obscenely far too high for my liking.
Agents are trickling back to work this week and the auction campaigns have kicked off with a wee bit more on the market. The majority of the auction campaigns starting after the Australia Day long weekend.
My prediction this year is for property prices to continue climbing. No one is interested in shares at the moment, another rate cut is tipped for the first quarter of the year bringing interest rates down to an all time low. The Economy in general is traveling fairly well and there are very bullish developers with cranes right across New South Wales which means countless business and industries are working and benefiting.
One thing is for sure we are living in one of the wealthiest city’s in the world with the most beautiful scenery and weather. Our population is continuing to grow at a rapid rate. Everyone wants o live here and why not? We really are the lucky country. Buyers don’t be disheartened, there are still bargains to be had in any real estate market. Do your homework on values, invest the time to search and negotiate hard when you find the one.
Happy long weekend and property buying!