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Sydney Market Update

Written by: Extracted from Australian Property Monitors 2014 reports

Sydney was the standout performer amongst the capital city markets in 2013 with annual prices growth set to exceed the 12 percent recorded in 2009 – which would be the best result in a decade. Sydney’s inner west, upper north shore and west suburban regions recorded strong prices growth of up to 20 percent over the year, with the inner west median house price now tracking above $1 million and the upper north shore close behind it.
Record levels of investor activity were a significant factor in Sydney house price growth in 2013, although first home buyer activity and the prestige market remained relatively flat.
The Sydney housing market is set for a solid start to 2014, as confidence and enthusiasm particularly amongst mid-price range inner and middle-ring suburban buyers remains high. However, buyer activity and prices growth should begin to moderate by mid-year as the effect of falling affordability and a deteriorating economy impact the housing market. Sharply falling yields, rising vacancy rates and a rising share market should act to moderate investor activity.

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