Hot Today

Pictured: Ken Smith - Sales Executive & Partner

The market has started strong with properties selling far quicker this year already, than the same time last year. Though there could be head winds on the way and as quickly as the market bounced back, continued consumer confidence is critical for the market to sustain its current momentum.

The coronavirus is definitely a concern to every economy all over the world and Australia’s concern is that china is our biggest trading partner.

In the short term, our problems are pretty clear cut, we have not got a vaccine, the virus is globally spreading at a fast rate, major airlines and international governments are putting major travel restrictions on people travelling to China and Chinese travelling outside of China.

What does this have to do with Real Estate in Sydney?

Our economy is dependent on tourism globally. A big part of that is China’s international students, travelling over to Australia and attending our universities - a big income producer for the Federal Government. The main concerns moving forward is consumer confidence.

Currently, open houses and Saturday Auction floors are buzzing. The open houses are packed and interest rates are really low. Buyers are becoming overzealous and becoming keen to secure properties prior to Auction. Prime coastal properties are selling for $10’s of $1000’s over reserve and there is still a shortage of quality properties for sale.

Economically Australia is in a sound economic position, with a strong stable government and a strong banking system. Our stock market is at record highs but our concerns are wage growth, creation of new jobs and if the federal government will address the climate change issues.

If you’re thinking of selling, the market is strong today. If you’re thinking of buying we have a good selection of properties advertised on our website.