Market update December 2016 – Kiki Bermudez
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| As we come to the end of 2016, I would once again like to thank you for our continued relationship over the year, for which I am very grateful. The connection I share with you energises me as I grow as an agent and build my wonderful team within Mint360 property.
To summarise the Sydney property market in 2016, it was another year of decent growth, supported by a low cash rate (lowered by 0.5% over the year) and the low supply of properties on the market. Auction clearance rates remained high throughout the year, as buyers were confident in the market despite the sluggish Australian economy and various global economic developments. I wish you a wonderful holiday season and all the best for 2017. I look forward to keeping in touch and please do not hesitate to contact me with your property goals and aspirations for the year ahead as I would love to help you turn them into a reality. Now, turning to recent economic information put out by the analysts, the median capital city property prices continued to grow nationally in the third quarter, albeit at a slower rate, and with significant differences in growth rates between cities. This quarter also saw the Australian economy contract sparking fears that we may be heading into a recession; however analysts believe that this will be able to be avoided – and let’s hope so! Below is the key economic commentary that caught my eye that may be of interest to those looking at transacting property in the near future: |
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| Housing trends for the Eastern Suburbs: | ||||||||||||||||||||
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