As we start the new year, most of us would give our car space to find out what the future holds for Sydney’s real estate. Well, have no fear. At Selby Anda, we’ve studied marketplace conditions and property reports to determine what to expect for the 2017 property market.
Sydney is Soaring in Value
According to the property analysts at SQM Research, Sydney’s property prices will continue to grow between 8 and 12 percent this year. Additionally, a low Australian dollar means foreign investment is set to increase significantly. With the median dwelling value remaining over 1 million, this makes it a great time for sellers to sell.
Hot property markets include suburbs such as Randwick, Kensington and Kingsford, as the light rail project will increase transport between these suburbs, the airport, CBD and UNSW.
How can we help? Want to know the value of your property? Ask a Selby Anda agent for an appraisal of the market value of your home. Alternatively, if you are looking to sell an investment property or your family home, you can be assured that Selby Anda will act in your best interests at all times, and always keep you informed of the deal’s progress.
Renovations & DIY
Renovating is also on the rise. Despite falling rental prices in 2016, SQM Research predicts a rental growth of 4% this year. As a result, people are looking to manufacture capital growth through refurbishment, renovations and redevelopment in the gentrified inner and middle ring suburbs. This is in preference to a worrying oversupply of project developments in areas such as Green Square, Waterloo and Alexandria.
How can we help? Unless you know a guy, who knows a guy, renovations are expensive. To find out whether a reno would be worth the cost, ask your local Selby Anda agent for an inspection. We also provide DIY services to help you with smaller renovation projects that prevent over-capitalising
Brexit and the American 2016 elections have caused shock waves worldwide. As a result, we predict trust will become a valuable asset when navigating Sydney’s property market in 2017. Order taking agents who over promise and under deliver will be passed over for trusted professionals with extensive skills and capabilities. When market conditions become fluid, intensive services such as property and lease management will require a corresponding rise in quality performance.
How can we help? Tired of your property management being run by office juniors? Selby Anda provides property management undertaken only by senior professionals who will treat the property as if it was their own. Find out more information about our team’s experience here.
So, what do you think of our top predictions and tips for 2017 real estate? We’d love to hear from you. Please feel free to get in touch with us today to start your property journey on the right foot this year.