MyPlace Property Report July 2015

Download the complete newsletter MyPlace Property Report July 2015

CRAZY HOUSE PRICES! To sell or not to sell?

When is the best time to sell? – Is there a bubble? Is it about to burst?

Media and experts are wrestling with these questions at the moment. Take a look at this chart. The chart shows the median house price in Sydney form 1990 to 2015. I believe that the above chart shows that now is the time to sell. We do not subscribe to the belief that the market is about to crash. Certainly there will be a correction as some of the heat goes out of the market and competition in the market place declines between buyers and investors. There is no such thing as certainty, but it is my belief, that this is a great time to put your property on the market. Current conditions are extremely conducive to selling at a premium price and who knows how long this will last? Observe the previous peak at 2004. This period was followed by fluctuating ups and downs in predominantly a negative growth market. Where owners had to sell the environment was much more unpredictable over this period. Sydney is a capital city market and a very popular one. Our beaches and lifestyle attract overseas investors. Markets within markets – there are many individual markets in Sydney which perform differently for different reasons. Similarly, states and city suburbs should be looked at on their own merits.