news

Buying time in Sydney’s high end

By webmaster

The top end of Sydney’s property market may have had a patchy run of late but there are still good buying opportunities, according to one industry figure.

Rich Harvey, CEO of buyer’s agent Property Buyer, said turnover in Sydney’s prestige markets had been lackluster but conditions are likely to improve as consumer confidence lifts.

“There is still an air of cautiousness amongst buyers since the effects of the GFC.  The pressure to make decisions because of competitive buying has dissipated.  Prestige buyers are taking their time, looking at all options and then negotiating hard to secure a good price,” he said.

“The market is likely to see some further discounting to find a natural equilibrium, but vendors selling and buying in the same market conditions will achieve the same net result – but without competitive bidding in a boom market.”

Mr Harvey said the current conditions augured well for buyers.

“In the luxury market there’s only a limited supply, and right now there are some great opportunities for cherry-picking.”

According to Mr Harvey, the uniqueness of some of Sydney’s prestige markets will always underpin values.

“In Sydney, there is a limited supply of absolute waterfront and beach front properties, which means unique property retains its value for generations to come.”

Thank you.

Your enquiry has been sent to a local Aussie Mortgage Broker.

We will be in contact with you shortly.
Opps.

error occurred.
Unfortunately Aussie cannot attend to your home loan related enquiry at this stage as you must be a citizen or permanent resident.
Do you need help finding the right loan for your investment?
What Aussie do for you:
  • Give expert mortgage advice to help you find great investment loan deals
  • Help you maximise return by lowering financing costs
  • Save you time and effort by helping with the paperwork
First name
Last name
Location
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
BLUE BAY 49.18%
2.
PAMBULA 43.5%
3.
BERKELEY VALE 42.74%
4.
POINT PIPER 40.52%
5.
NORTH TURRAMURRA 38.12%
Buying time in Sydney’s high end
SPI logo