Kiki’s Monthly Market Update – May 2017

Coming to the end of May and it has been a busy period for my team and I, with the market continuing to push forward, although I am noticing increased complexity for my sales with buyers becoming less committed. So, whilst there is still buyer activity, selecting a skilled agent is becoming even more important, particularly for properties without a point of differentiation. At my auction this past weekend we saw eight registered bidders competing for a two bedroom unit in Alexandria and, interestingly, whilst it was a typical property type that would interest investors, all eight parties were owner occupiers. This is representative of the continuing shift in buyer activity from investors to owner occupiers, as investors are experiencing more difficulty getting loan approvals.
Turning to the most recent economic information put out by the analysts, wage growth remains muted with underemployment remaining high, and therefore expectations are that the RBA will leave the cash rate on hold for the foreseeable future, and may even cut it again if property price growth slows. Beyond just residential, the overall property market experienced a significant decrease in transactions in 2016 compared to 2015, particularly in the industrial and retail sectors that saw muted capital growth.

  

 This newsletter contains general information only as of 26 May 2017. Before making any decision or taking any action that may affect your finances, you should consult a qualified professional adviser. Kiki Bermudez or Mint360property shall not be responsible for any loss whatsoever sustained by any person who relies on the information in this newsletter. To unsubscribe click here
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Kiki Bermudez
Kiki brings a remarkable and varied array of qualifications and experience to her role as Sales Executive at Mint360property. A keen and effective agent, dedicated to the unique Mint360property values, Kiki offers her clients unparalleled and professional service, honest advice and commitment through their journey while achieving the best results in Sydney’s exciting market.

26th May 2017

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Kiki Bermudez

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