Sydney buying conditions frustrate investors

By |

If you’ve been thinking about investing in Sydney but haven’t done so, you may have to work harder and look further to get a good deal.

Herron Todd White’s Kim Quick says there’s currently a distinct lack of listings as properties are quickly snapped up as soon as they come on the market.

“The single biggest factor affecting the market across all metropolitan suburbs is the lack of available stock,” she says.

The consensus from both agents and prospective buyers is that there is simply not enough property for sale at present, she continues. “Because of this shortness in supply, when properties do come on the market we are seeing some very positive sale prices.”

This anecdotal evidence is backed up by a recent report by RP Data which found that listing numbers in Sydney are about 28% lower than a year ago. This comes as sales activity jumps 30% over the same period – creating a perfect storm for price growth.

However, Sydney’s undersupply situation is likely to be improved in the future with a significant increase in new homes being built around Sydney. Over the 12 months to September, construction of new homes jumped 35%. This represented a 10 year high, according the state government.

Western Sydney councils saw the bulk of the growth with the highest completions in Blacktown (2,021), Parramatta (1,336), Camden (1,290), Penrith (1,271) Liverpool (1,185) and The Hills (1,037) local government areas.

With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now

Top Suburbs : east victoria park , newtown , wiley park , midland , bendigo

go back

Get help financing your investment

Do you need help finding the right loan for your investment?

When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.

Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.

How soon would you like a mortgage?
What is your Annual Household Income i $
Do you currently own any Investment Properties?
Do you own your own residence?
How much equity do you have in all your current properties?
First Name
Last Name
Where do you live?
What number can we reach you on?
E-mail address
We value your privacy and treat all your information seriously - you can check out our privacy policy here