According to a new study by PIPA (Property Investment Professionals of Australia), investors see again an infinite potential in the real estate market in Sydney.
While Brisbane remains the "apple of the eye" for many investors, Sydney has managed to reappropriate its appeal – the PIPA survey shows that interest in the city has increased, 14% of investors considering it as the state capital with the best prospects for investment.
"The number of investors who now view Sydney as the state capital offering the best investment prospects has grown considerably since last year. However, it still remains in delay on Brisbane and Melbourne, "said PIPA President Peter Koulizos.
Sydney has shown signs of life in recent months, leading the general market rebound. The results of the federal elections, the easing of credit policies and the low interest rates have helped to strengthen its image among investors.
"There have been more and more buyers and active investors in Sydney," said Michael Ossitt, director of the STRAND Property Group.
Read also: Investors return to the housing market
Citing CoreLogic figures, Ossitt said the median housing price in the city had become more palatable, at $ 805,000, making it more affordable not only for investors, but also for many buyers wishing to buy. 39 seize on the one hand from Sydney.
In addition, recent figures from SQM show that the number of listings in Sydney has decreased by 20% over the past year, up to September. Ossitt said that this, along with rising bid and ask liquidation rates, would seem to indicate that the Sydney housing market was heading for another upswing.
"It's still early, of course, but strategic investors are doing it now," he said.
According to Ossitt, Northern Beaches are in high demand, especially among homebuyers and investors aware of recent price declines in the region.
"They recognized that the price of such desirable real estate would not stay long at this level, so they were eager to play their right of claim," he said.
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