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With property prices creeping back up, a local buyer’s agent has reflected on whether Sydney house prices are likely to create another housing boom.
Speaking on a recent episode of The Smart Property Investment Show, buyer’s agent Brady Yoshia spoke to host Phil Tarrant about whether she envisions property prices within Sydney will rise to the level they were over 2016-2017 period.
“I think that it’s still going to take a little bit of time, I think we’re going to plateau for a bit,” Ms Yoshia said.
“Some properties are certainly going to achieve high prices based on the lack of supply, but it’s going to plateau for the next 12 months I would say, and then we’re going to see a steady increase.”
When asked whether investors should be capitalising on the Sydney market, Ms Yoshia said the time is perfect if one can afford it.
“Investible stock would even be a three-bedroom house on the Upper North Shore, because it’s more affordable now than what it was two years ago,” she advised.
“I also think that on the Northern Beaches, because some of the prices have come back quite substantially, there [are] some good buys. [Good] one-bedroom apartments [are] there as well, [particularly] in Freshwater, Avalon and Dee Why.”
That being said, there isn’t much by way of current stock left on the market, according to Ms Yoshia.
“There are not a lot, so it’s really [about] working with a buyer’s agent to source the opportunities with the local real estate agent of that, within that area,” she said.
A house refers to a building or property used as living quarters or an individual’s place of permanent or temporary residence.