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Which could compound things just a little bit more a lot of focus on on less interest only lending less investment lending less hire LVR lending less high debt to income ratio lending as well so a lot of restrictions in the marketplace that I think will continue to curb demand to some extent but there’s also some some good opportunities here if you think about the market segment that’s been most resilient its owner-occupiers we’ve seen a real upswing in first home buyer activity harder that’s being fueled by stampeding concessions in New South Wales and Victoria we don’t market like.
There’s been no there’s been no stimulus for first-time buyers and there nearly a quarter all owner-occupied demand highest in mini-state mostly because we’ve seen a portability improvements in that marketplace and it’s much easier to be active and the same exists in Melbourne as well would you say the cycle of a downward trajectory would be complement complemented by the same upswing time and in motion I guess is there any reason why it would be any different to the city market no not at all obviously each market has its own dynamic which is fueled by generally demographic trends and economic conditions and they’re very different between Sydney and Melbourne so probably one of the reasons.
Why Melbourne has been a little bit more resilient to Sydney up until recently and we saw Melbourne continuing on in terms of growth longer than what Sydney did by about six months was that we’re seeing much stronger migration trends across the Melbourne metro area particularly www.sydneypropertyvaluations.net.au interstate migration overseas population growth speak Dada starting to come down a little bit but still very strong but overall Melbourne still the population growth powerhouse of Australia population rising by more than % per annum but we’re also seeing in Sydney that that exodus of Interstate migrants to other regions is really gathering some momentum.
Now so we are seeing the demand pressures really starting to come off across the Sydney market we obviously is migration starting to slow down but most importantly interstate migration is really starting to ramp up now generally moving to Queensland some moving into Victoria as well so I think Melbourne probably does seem to have a better fundamental than what Sydney does in terms of those demand drivers.
It’s also building more housing though so the supply side of it is still showing some imbalance particularly around that the apartment sector which is still or at least based on June data which is the strain of your statistics construction data we’re still seeing a record number of apartments being built across Victoria a little bit more than , and that’s obviously concern for the the Melbourne that couldn’t bad–it’s supplying the man so you know we’re going to need these properties at a point in time