Luxury housing market set to increase in 2016 while cheaper suburbs slow in Sydney
Prices of luxury properties are tipped to rise significantly in 2016.
Prices of luxury properties are tipped to rise significantly in 2016.
by Su-Lin Tan
Houses worth more than $2 million in Sydney's lower north shore, northern beaches and eastern suburbs could increase in price more than 10 per cent in 2016, while cheaper suburbs popular with investors cool, property expert Louis Christopher says.
Prices in Sydney's eastern suburbs will increase between 8 and 3 per cent in 2016, Mr Christopher, of independent property advisory and forecasting research company SQM Research, said.
It is a prediction that is at odds with several high-profile calls from economists that the housing market has peaked. Investment bank UBS said recently Australian property was "overvalued", after having risen 30 per cent since 2012.
Investors and buyers who wanted to live in their own homes had been driven to western Sydney by high prices in inner-city Sydney, Mr Christopher said.
"They realised that they can obtain two properties for the price of one if they purchase in cheaper areas and gain stronger rental yields," he said at the 2015 Property Buyer Expo in Sydney's Homebush.
Experts say a clampdown on lending by the Australian Prudential Regulation Authority is reducing demand for property. However, Mr Christopher predicted the strong NSW economy would be good for affluent parts of Sydney.
The lower north shore, which includes Mosman and Neutral Bay, has lagged in price growth since 2011. Prices will increase up to 12 per cent, from 3 per cent in the past three years, he said.
"The state economy has grown 5.9 per cent annualised in the last year. When that happens prestige areas tend to do well," he said. "As the cheaper areas rise to plus $1 million for houses owner-occupiers realise if they top up their budget they can get a better home."
People living in Sydney and Melbourne are even buying expensive Brisbane properties.
"We are seeing Sydney and Melbourne buyers at levels we haven't seen in quite a while," John Johnston, of Brisbane's Johnston Dixon, said. "They are buying to live particularly along the river, where flood concerns are over."
McGrath's Michael Coombs, who sells property on Sydney's lower north shore, said he would not be going anywhere this Christmas.
"We are still getting so many offers in the $5 million to $12 million range. We don't always get the price the sellers wants, but we are getting offers," he said.
Luxury agent Abercromby's Real Estate's Jock Langley said there was a shortage of properties in the $3 million to $20 million bracket in Melbourne.
"We get multiple offers on most assets especially in Toorak, Kew, Brighton and Canterbury," he said.
In Sydney, Parramatta house prices have risen 55 per cent since 2012, Liverpool 52 per cent and the inner west 46 per cent, SQM Research said.
But Mr Christopher said housing prices would not go backwards.
"While many are forecasting a property crash in 2016 in Sydney, this is certainly not my prediction."
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好吧
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看来悉尼屌丝同学买的是两百万以上的房子。。。
换句话说200万其实就是悉尼屌丝的水平。。。
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我粉转黑了。。这脸变的太快。hold不住。
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我买的没有那么贵，就希望明后年涨到那么贵了
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AFR长期观察员
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是啊，所以以后中产阶级都要买2M以上的了，所以说这些房子要涨啊
现在最尴尬的就是1m-2m之间的房子了，穷人买不起，买的起的看不上
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lz真是奇葩
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能说出这话的人是一种什么样的智商，大家感受下
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看结果。。。
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这得玩得多大啊？
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两百万在屌丝眼里都是小钱
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刚买了一套140不到的
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那肯定是假屌丝
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自从你买了Ryde的房，就变多军了。别着急，会涨的，催不得，慢慢涨，每年涨8%-10%，就可以了。
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为何叫悉丝不叫尼屌？他买在west ryde了
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不知道，也没兴趣，不过他之前都看house，应该买的是house？
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买了就要去享受了，还继续关注，看来还要继续买啊
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每天都发号外啊，哪来的那么多号外啊，说1-2M的房子最尴尬，这是没有常识啊，中位价房的成交率是最高的，看一看每周的拍卖总结就明了
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