Sell with Confidence
Read More
News

2020 property forecasts from Domain

By Paul Nees
Domain released their forecasts for 2020 yesterday and they’re largely in line with our own forecasts for the year. They predict houses in Sydney will rise by 10 per cent over 2020 to a new median of around $1.25 million, while apartments will rise by 8 per cent to a new median of $790,000 – just above the peak reached in June 2017.
To overlay our own predictions for the Lower North Shore, many of our sales are breaking street and block records, so it seems likely 2017 price averages will be breached by the middle of the year.
FOMO, or Fear Of Missing Out, is prevalent in the current market with a continued lack of stock which will hasten higher record-smashing heights. Anecdotally we’re seeing this with new listings achieving multiple offers after even one open as buyers compete to avoid auctions.
Domain include the same caveat we mentioned several weeks ago, which is that economic conditions may impact the rate of growth. In particular they cite the coronavirus, which may impact Australia if the economic impact in China is severe. Domain also cite a possibility of APRA taking action to slow price growth through limiting lending, as they have done in the past.
Up to Date

Latest News

  • How do dolphins sleep?

    Dolphins sleep in a very different way to the way we humans do. Humans have prolonged periods of unconscious sleep and we are not aware of our surroundings for periods of time while sleeping. Humans have a breathing reflex and when we sleep or become unconscious, we continue to breathe … Read more

    Read Full Post

  • Lane Cove real estate weathering the storm

    Sydney has been the market most visibly impacted by the Covid-19 period. The number of suburbs showing growth has dropped sharply and danger markets have doubled.We’re starting to see the emergence of a two-speed market, with suburbs near CBD centres that have a higher proportion of owner occupied properties showing … Read more

    Read Full Post