Buying property in Sydney can be daunting, often supply is limited and competition is high for the properties that are available.
Often these properties appear to sell as soon as they hit the market, and drive emotional and fear-based reactive decisions to avoid missing out.
Sydney property has seen significant improvement after two interest rate cuts, tax cuts, reduced uncertainty around housing, more positive media and easing in the overly tight lending guidelines.
Buyer competition is revving up, as home buyers are borrowing money and looking for property to purchase, although sellers are yet to catch up with this momentum, returning to the market at a slower rate and creating somewhat of a demand gap.
Market analysists predicated in late 2018 that Sydney property would drop by 30% - 40%, early 2019 saw the market flatten from price drops of approximately 10% in 2018.
Since the federal election we have seen confidence return to the market.
A combination of maintaining capital gains tax discount and negative gearing, along with RBA rate cuts and some relaxation in lending standards by APRA has resulted in a positive result in the market.
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