2019 has arrived, real estate experts look forward to this year’s Sydney real estate market, Sydney housing prices are expected to fall further, the number of property auctions will be reduced, real estate development will be depressed. According to the Australian Domain Real Estate Network,Sinoeast한국어 experts believe that Sydney’s housing market is currently in the worst recession in decades, but as buyers continue to be subject to stricter loan restrictions, prices are expected to fall further.
Oliver said that the implementation of the comprehensive credit reporting regulations means that credit institutions need to consider other loans and debts that buyers have already held when applying for a mortgage. A wider range of credit visibility may make it more difficult for people with other debts to obtain further loans. The approval of the mortgage will pay more attention to the reliability of the applicant’s loan repayment and its total debt.
In addition, the final investigation report of the Royal Banking Commissioner will be released in February, and banks and buyers are expected to continue to be cautious for some time. However, it remains to be seen whether the report of the Royal Commission will bring further pressure.Sinoeastрусский Douglas Driscoll, president of Starr Partners Real Estate, said that the credit crunch and the decline in buyer confidence will keep the auction clearance rate low (less than 50% in the past two months), and the number of people who choose to sell in auctions will decrease. And Driscoll expects that Sydney’s property auction turnover rate will remain below 50% in the first half of this year, but he also said that sellers should not think that the auction is a failure because the number of properties sold after the auction is increasing. He added that due to the uncertain policy, this year’s Sydney real estate market will be in a state of stagnation before the NSW election and the federal election. However, buyers should not expect a fall in house prices, and should try to catch the opportunity to make money as much as possible.
Driscoll said that housing prices in the East and Lower North Shores will remain at a good level, as the high-end housing market is less dependent on investors, as well as cash-rich buyers from both local and foreign markets. He believes the problems that may arise are those areas with many uncompleted apartment projects, because the valuation of these apartments will be more and more low than the purchase price, and people can not afford the amount of the transaction. But Chris Johnson, president of the developer lobby group Urban Taskforce, said that although he expects the default of the deal to increase, he thinks it will not be a big problem. SinoeastDeutsch And the problem that may arise is the pressure on the ability of the loan to limit the ability to implement the project, especially for small developers who may be increasingly ”exiting the game”.