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Penny,
Where do you estimate we sit in the property cycle in Sydney ?
The general view appears to be “recovery phase ” at say 7 O’clock. With interest rates low, saving rates high, household debt lower, the election and therefore uncertainty soon to be behind us, one should think the property market is poised for an upsurge.
On the other hand does the ” new normal ” mean slower recovery in residential pricing?
A: Hi Marina,
Thanks for the question.
I think you are broadly right about the property clock. I think we are about 1 year into a 3 year bull market.
It obviously varies by region, and by type of property. There is no uptick in commercial property, for example.
Sydney residential is probably running harder than Melbourne or Brisbane, and is a little past the “recovery” phase. On the other hand, the Gold Coast is still lagging.
Post the election, with Spring in the air and what I expect is some built up consumer demand, I think we are going to have a pretty buoyant market in some areas. Hope this helps.
