Sydney is showing the sharpest turnaround in market conditions since conditions began to turn this year, with the trend looking very similar to how the market responded over the first round of APRA changes back in early 2015 through to 2016.
Sydney is showing the sharpest turnaround in market conditions with the trend looking very similar to how the market responded over the first round of APRA changes back in early 2015 through to 2016.
The annual growth trend has more than halved since May earlier this year, when Sydney dwelling values were rising at 18 point 8 per cent per annum.
Over the 12 months to October 2017 the annual growth rate is reduced to seven point seven percent.
Considering the recent negative movements month on month, we expect the annual trend will continue to reduce as the market moves into its down phase.
While we expect values will fall across Sydney there are several factors that should help to contain a downturn: overseas migration rates remain strong, interest rates are likely to remain stimulatory and first home buyers already offsetting some of the easing in investment demand.
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