Experts Agree: Buy Real Estate in Sydney Now

» Experts Agree: Buy Real Estate in Sydney Now

Experts Agree: Buy Real Estate in Sydney Now

Buying real estate in Sydney is getting harder.

With tougher restrictions on bank lending, many people have turned away from putting their hard earned into the real estate market.

But despite this experts still encourage buying real estate in Sydney, arguing that it stays as good as an investment as ever.

Fundamentals Are Still Strong

One of those experts, Linda Wang, sees good markets ahead for those who choose to buy now.

Wang from Laing + Simmons, suggests that potential buyers start now.

“We have a growing population, and often a shortage of accommodation, and those are the two single biggest factors in the property market.”

She continues, “most of us believe Sydney still has a lot of good investment buying.”

Part of the reason that the investment market for real estate remains a good choice is the city itself.

The market remains healthier in Sydney than in most Australian cities. Economist Dr Andrew Wilson attributes this to the specific economic atmosphere of the city where the strength of demand has been bolstered by a surge of new buildings and strong population increases.

“There’s also the talk of changing the tax system, with negative gearing, as well as super rules, which could further encourage people to put their money now into bricks and mortar before that happens.”

Dr Wilson says. “I think there are good opportunities for investors in Sydney at the moment, particularly at a time when sentiment is lower and there’s not so much energy in the market.”

One of the reasons for these opportunities according to Wilson is the growing number of new constructions lying vacant even as they build more.

With the number of homes vacant hovering around 2%, the price will most likely drop for new homes making the near future the best time to buy.

This means a projected growth of 3-5% in the long term. Those numbers will rise soon and the time to buy real estate is before they do so.

New Apartment Vacancies will Soon Be Filled

Metropole Property Strategists CEO Michael Yardney gives much the same assessment, adding that Sydney has been experiencing good population growth, meaning those units will begin to fill up in the future.

He also offers some advice on which areas of the city to invest in,

“We’re still seeing a lot of demand for homes closer to the CBD, in the eastern suburbs and on the lower north shore and the inner west.” says Yardney.

“That’s from a demographic of people whose wages are growing more than average and who have a higher disposable income, so those are always good areas to invest in.”

The Growth Of The West

Dr Wilson endorses buying houses further on the west side of the city and extending into the western suburbs, claiming that gentrification in Penrith has been pushing up prices in the area; this trend should continue.

Head of retail lending at Lendfin Joseph Alam makes much the same suggestions. He says to look south and west.

He has seen prices nearly double in some areas of Sydney. Between all these experts, nearly every part of the city has been recommended, with all having major success stories of clients who made great investments almost everywhere in Sydney.

“There are a lot of new areas coming up and we advise people to take a good look at them,” Alam says. “People are being pushed to the outer suburbs by affordability but there is often good buying for investors in those areas, as well as owner-occupiers.

There’s a lot of demand for rental properties as there are lots of new jobs out west, the new airport coming up, and lots of small, well-priced, low-maintenance blocks to invest in.”

The experts all agree: now is a good time to invest in real estate in Sydney. It has better growth potential above other Australian cities.

2018-08-15T01:25:33+10:00August 14th, 2018|Categories: Real Estate|Tags: |