April 2014 Market Update

It’s an exciting time in Australian real estate right now! The Sydney property market is the hottest we have seen it in many years.

Last year Sydney experienced phenomenal growth with overall values (houses and apartments) up 14.5%.   About 30% of that growth occurred in the December quarter, so we had a very strong finish to the year that has now extended well into 2014.

Vendor confidence has also increased significantly in Sydney. McGrath’s sales listings have doubled compared to 2013.  The key factors that are keeping Sydney’s market firing in 2014 include increasing numbers of investors, strong upgrader activity, very short supply and a burgeoning Chinese interest in the prestige sector of the market.

It is important to note however, that the frenzy can’t continue forever.  Boom time clearance rates (like the 86% Sydney recorded on its first Super Saturday) can’t be repeated week after week. So whilst there is every reason to expect the market to slow down at some stage, we don’t believe this will be happening this year. 2014 is set to be a positive year so take of advantage of it and enjoy the prosperity.

Northern Beaches Property - Sold at AuctionFor futher information or for an update on your own property, call us today on 0424 006 855. We look forward to speaking to you soon.

About Tim Cullen

Since joining McGrath Estate Agents 18 years ago, Tim Cullen has defined himself as a first class industry leader with an outstanding track record and rapidly growing client base. He consistently ranks in the top 50 agents nationwide in the Real Estate Business’ Top 100 Agents List, ranking as high as 21st in Australia. He is passionate about real estate and delivering premium results for his clients.

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