by Ericka Pingol
Despite the slowdown, Sydney still has the price of the most expensive housing among capitals, exceeding $ 1 million, but an expert thinks it will change soon for the better.
Sydney saw a 3.1% drop from the March 2019 quarter and 11.5% since March 2018. The price of its homes remains 42.4% higher than the national average.
However, median prices in the city could fall even before the end of the month.
Tim McKibbin, CEO of the Real Estate Institute of New South Wales (REINSW), said that based on the current rate of decline, predictions show that Sydney's median price would fall below one million dollars by the end of the June 2019 quarter.
"We hope that other properties will come on the market, shorter lead times and higher clearance rates – as we witnessed on the weekend after the anniversary holiday. Queen's, "said McKibbin.
According to CoreLogic, the clearance rate in Sydney is consolidating. Market commentators will take a closer look at the market in the coming weeks, which could provide insight into the effect of recent elections on buyer confidence.
"Since the election, the Sydney real estate market has grown satisfactorily, albeit slowly," McKibbin said. "The market is regaining confidence, as evidenced by recent clearing rates of more than 70%."
Top suburbs:
Tiwi
,
the basin
,
Murdoch
,
Gladesville
,
Goulburn
Get help for your real estate investment
Do you need help in finding the right loan for your investment?
When you invest in real estate, it is important to make sure that you do not only have the lowest available rate that you can get, but you also have the features of ready adapted to your needs.
Just fill in a few details below and then we will arrange for a local Australian mortgage broker to contact you and sort out the problem What features or what types of loans are suited to your needs? We will even help with the paperwork. In addition, an appointment is free.
We value your privacy and treat all your information seriously – you can check
our privacy policy here
