HOT DIGGITY DOG SYDNEY PROPERTY PRICES R HEATING UP!!!

No need for chilli sauce or hot English mustard, the Sydney property market’s heating up just nicely on its own! According to the latest RP Data-Rismark National Home Value Index, all mainland cities (except Perth – sorry folks!) recorded price rises with Sydney found to be 1 of the best performing cities nationally this year with houses & units rising 5.1 & 5.4 % respectively.

Encouraging huh? Especially when you consider other western markets around the world, where prices are mostly in decline.”

Speculation suggests that first-home buyer activity is likely to taper off as the boosted grants gradually wind back with investors expected to take their place in the market.

Investors are becoming increasingly attracted to the strong rental yields that are creating positive cash flow opportunities in key markets around Australia.

Really it’s no wonder prices are starting to rise given the continued strong interest reported by local agents, including us!

Official interest rates are expected to remain on hold in the short-term as key measures of economic growth and inflation continue to remain within the Reserve Bank’s neutral policy band. Mortgage interest rates and lending costs for new borrowers are currently under downward pressure as competition between banks intensifies as a consequence of dwindling credit growth.

With incomes rising, a shortage of housing and the pressure off interest rate rises in the short term, the fundamentals are signalling increased home buying activity in Sydney through 2011. Eat up folks!!!

More? Call The Novak Agency 02 8978 6888 or 1300 4 NOVAK – 24/7 – WE NEVER SLEEP