Hi guys,
Well, it seems that there is a high probability that property in Sydney is set to grow in value again this year, with predictions from some commentators that we will be seeing capital gains of anywhere between 5% to 20% (IMHO we will see at least 10%+ growth).
However, I have heard a number of people echo the thought that we are now in a similar market to the late 2002 property market, which peaked around 2003 and left many people waiting six years before prices were substantially higher than what they paid for.
So my question is, do you think we only have one more year of good growth to go before the Sydney (maybe Melbourne?) property market either stagnates or declines? Or do you think we still have a number of years to go (maybe 2-4 years) before the cycle reaches its peak?
I will be buying my first IP in either the Inner West or Eastern Suburbs this year (hopefully within the next couple of months), however have been waiting for more quality stock to come onto the market as the Dec/Jan period has been woeful with regards to the volume of quality stock that has been listed.
Cheers,
Lisa
Well, it seems that there is a high probability that property in Sydney is set to grow in value again this year, with predictions from some commentators that we will be seeing capital gains of anywhere between 5% to 20% (IMHO we will see at least 10%+ growth).
However, I have heard a number of people echo the thought that we are now in a similar market to the late 2002 property market, which peaked around 2003 and left many people waiting six years before prices were substantially higher than what they paid for.
So my question is, do you think we only have one more year of good growth to go before the Sydney (maybe Melbourne?) property market either stagnates or declines? Or do you think we still have a number of years to go (maybe 2-4 years) before the cycle reaches its peak?
I will be buying my first IP in either the Inner West or Eastern Suburbs this year (hopefully within the next couple of months), however have been waiting for more quality stock to come onto the market as the Dec/Jan period has been woeful with regards to the volume of quality stock that has been listed.
Cheers,
Lisa