Invest
Sydney no longer belle of the property ball
Sydney has lost the crown as the most attractive capital city to invest property dollars in, according to new research.
Sydney no longer belle of the property ball
Sydney has lost the crown as the most attractive capital city to invest property dollars in, according to new research.
In the latest Finder RBA Cash Rate Survey, leading experts and economists were asked where they would invest $500,000 in property.
Despite Sydney no longer holding the top spot, the east coast of Australia still dominated, with Melbourne and Brisbane sharing top spot with 27 per cent of the votes each.
Finder’s insights manager, Graham Cooke, said the vast majority of economists are now steering clear of advising investment in Sydney.
“Sydney has traditionally been Australia’s darling in the property market, but it is no longer the belle of the ball,” he commented.
Sydney and Canberra received 14 per cent of the votes apiece, while Adelaide and Perth were the least enticing to the experts, with just 9 per cent of the votes.
While Finder’s insights manager acknowledged the depreciated value of Sydney’s property market, he believes that this has not enticed investors back into the market.
“Prices have just started to recover after falling nearly 15 per cent from the heady days of 2017, but sales volumes are still low and many investors and potential sellers are in a holding pattern,” he outlined.
According to Mr Cooke, the high price of property compared with income levels is still keeping property investors away from the Sydney market.
He considered this as the reason why the Sydney market has been somewhat slow to bounce back compared to other east coast capital cities.
Despite the slower recovery, Mr Cooke indicated a belief that Sydney is showing some signs of life.
“On the bright side, both prices and auction clearance rates are slowly heading in the right direction in the Harbour City, but these results indicate that the previous market highs are still a way off,” Mr Cooke concluded.
About the author
About the author
Property
Poor wage growth could impede home price growth
With wages growth at record-low levels, a property expert has warned that continuing low and flat wages could impede home price growth. ...Read more
Property
Negotiating a lower interest rate on your property loan
The banks are customer hungry, meaning they’re willing to offer increased discounts to new customers and apply these discounts to existing customer loans, a mortgage broker has said. ...Read more
Property
How to determine the real value of a property
With various factors affecting market value and pricing, can one truly predict what buyers will pay for properties? ...Read more
Property
House prices tipped to soar 20% in 2 years: Westpac
House prices in Sydney are tipped to grow by 20 per cent over the next two years, and by 18 per cent in Melbourne, as a leading economist predicts strong economic growth following the rollout of the C...Read more
Property
5 tips to unearth the next property hotspots
A property expert has bullishly claimed that property hotspots are a “complete myth” that almost guarantees buyers will pay top dollar, and has instead urged buyers to seek out the “warm spots...Read more
Property
Top 10 inland rural towns to invest in
While it’s become apparent that regional housing markets have stolen the spotlight, having outpaced their capital city counterparts in 2020, new research has shown that inland rural towns have also ...Read more
Property
Where to buy under $300k
A positively geared property with high capital growth potential does not necessarily need to carry an astronomical price tag, an expert has said, with new market entrants able to land a home for under...Read more
Property
‘Great Australian dream’ of owning a home lives on amid COVID
Most Australian investors and home buyers were largely undeterred by the events of 2020, remaining eager to push through with their investment plans, a new survey has found. ...Read more
Property
Poor wage growth could impede home price growth
With wages growth at record-low levels, a property expert has warned that continuing low and flat wages could impede home price growth. ...Read more
Property
Negotiating a lower interest rate on your property loan
The banks are customer hungry, meaning they’re willing to offer increased discounts to new customers and apply these discounts to existing customer loans, a mortgage broker has said. ...Read more
Property
How to determine the real value of a property
With various factors affecting market value and pricing, can one truly predict what buyers will pay for properties? ...Read more
Property
House prices tipped to soar 20% in 2 years: Westpac
House prices in Sydney are tipped to grow by 20 per cent over the next two years, and by 18 per cent in Melbourne, as a leading economist predicts strong economic growth following the rollout of the C...Read more
Property
5 tips to unearth the next property hotspots
A property expert has bullishly claimed that property hotspots are a “complete myth” that almost guarantees buyers will pay top dollar, and has instead urged buyers to seek out the “warm spots...Read more
Property
Top 10 inland rural towns to invest in
While it’s become apparent that regional housing markets have stolen the spotlight, having outpaced their capital city counterparts in 2020, new research has shown that inland rural towns have also ...Read more
Property
Where to buy under $300k
A positively geared property with high capital growth potential does not necessarily need to carry an astronomical price tag, an expert has said, with new market entrants able to land a home for under...Read more
Property
‘Great Australian dream’ of owning a home lives on amid COVID
Most Australian investors and home buyers were largely undeterred by the events of 2020, remaining eager to push through with their investment plans, a new survey has found. ...Read more
More articles
Website Notifications
Get notifications in real-time for staying up to date with content that matters to you.
