Look out boys here we come!
http://www.theaustralian.news.com.au/story/0,20867,20441721-25658,00.html
This is all cream for me as my development's success is predicated on today's realisation prices, but a market recovery in Sydney in 2008 would be a bonus. My site is due to come on line mid-2008 if it all goes to plan.
Happy days (unless you're negatively geared in Perth ).
Cheers,
Michael.
http://www.theaustralian.news.com.au/story/0,20867,20441721-25658,00.html
Michael Matusik said:Booming Perth and Darwin values will have finally halted, with prices in those cities set to fall within two years, according to the report from Brisbane-based research firm Matusik Property Insights.
But values in Sydney, Melbourne, Brisbane, Hobart and Canberra will be climbing in 2008 on the back of rising rents and a shortage of detached houses, said report author Michael Matusik.
Rod Cornish said:Sydney will be one of the first to experience an uplift when it does occur, for a number of reasons - one of those being that the gap between Sydney affordability and the rest of Australia is actually the narrowest gap we have seen in about nine years," Mr Cornish said.
2008, mark your diaries people.Stockland said:Australia's largest residential developer, Stockland, also expects an improvement in conditions in Sydney in 2008.
This is all cream for me as my development's success is predicated on today's realisation prices, but a market recovery in Sydney in 2008 would be a bonus. My site is due to come on line mid-2008 if it all goes to plan.
Happy days (unless you're negatively geared in Perth ).
Cheers,
Michael.