What is REALLY happening in Sydney's Property Markets
The TRUTH, the whole TRUTH and nothing but THE TRUTH!
A note from CEO, John Edwards
It’s concerning to read all the different reports on what is happening in Sydney’s property markets. Different data circulated from different analytical companies, unless we clearly understand what they are basing their numbers on, can often be misleading and create confusion as to what is actually happening.
Housing markets and unit markets grow at different rates, during different periods of time and I cannot stress enough the importance of reviewing these markets separately. While one market produces good growth, the other may be in decline.
Residex is first to release market statistics on performance each month and calculates statistics/data down to a suburb level. We are the only company, to my knowledge, that uses technology that is so advanced that these figures do not require revision. After reading the different releases this week about housing growth rates, you would probably be confused as to what is really happening.
One data company reported house prices increased by 0.5% in December, are up 0.7% for the quarter and down 0.9% for the year to a median of $535,000. I suspect that these statistics are a result of viewing Sydney property as one market, rather than separating houses and units.
Another company stated house prices are unchanged for the quarter and down 1.3% for the year to a median of $637,000. This is more defensible than the previous statement however both companies will review their numbers over the next few months as they gain access to additional data. I would expect that once revision is done by the latter company, its figures will bring their data closer to ours which we have already reported.
In our December statistics, which we released 17 January, we reported a 0.24% decline in Sydney house values in December, a 1.78% decline for the quarter and that the Sydney house median value was down 2.54% for the year, to $656,000.
...
I am concerned that the public will not recognise the potential issue that may be developing in Sydney’s house and land market due to affordability issues. The result may be that people are simply reading press and believe they should be investing in houses because they are given the impression that the worst is over. At this stage, I think it would be sensible to take care and avoid the house and land market unless you are buying at basement bargain prices. The best investment class in Sydney property at this point in time, in my opinion, is established older style units.
If you are investing or intending to invest in Sydney property, be sure to get a copy of the latest Residex Report which provides an in-depth analysis of the global and state economic position.
Regards,
John Edwards,
Founder and CEO of Residex Pty Limited.
评论
为什么要转这个？早上就读过了。。。
评论
>At this stage, I think it would be sensible to take care and avoid the house and land market unless you are buying at basement bargain prices. The best investment class in Sydney property at this point in time, in my opinion, is established older style units.
Good point!
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