Sydney house prices won’t keep falling

The message from the state’s peak real estate body was “Sydney homebuyers, this may be as good as it’s going to get” As the housing market in Sydney has stabilised. The average house prices from March 2011 to March 2012 have dropped by 6.7% but in the last 3 months there’s been little change.

REINSW CEO Tim McKibbin said “If you’re sitting and waiting for the market to ease further I frankly can’t see that happening and now is an excellent opportunity for purchasers to be coming into the market,”

Sydney has some of the most sort after land and property in the world and prices reflect that. Expect to be well into the millions in the wealthy suburbs of Bellevue and Mosman.  These top end prices have fallen but in more affordable areas prices have stayed the same in recent months.

If you are looking to upgrade, you’re a first time buyer or your looking for investments now might be as good a time as ever. The Australian market is very stable and there are some good deals out there.

Leave a Reply

Your email address will not be published. Required fields are marked *