Hi Penny, just wanted to know what your outlook is for the residential property market around the blue mountains area? Sales seem to have picked up quite a lot of late and not sure if it is a market for capital gain.
A: As you know, I'm no property expert, but it does appear that the Sydney residential market and nearby areas in NSW are picking up with auction clearance rates over 80% for the past five weeks. Like all markets the Blue Mountains has its ups and downs and maybe the opportunities for capital gain aren't as great as other parts of of Sydney, but it is much more affordable and certain parts of the Blue Mountains - like Katoomba and lower down like Leura - possibly offer good yield opportunities.
