This weeks Real Estate commentary has included a number of positively spun articles predicting all sorts of positive, silver lining, potential outcomes. However, this has been accompanied by the negative commentary which is still receiving more attention from Australians with an interest in Real Estate.
Domain has released an article today (22/1) predicting a continuation of Chinese investment into the Australian market driven by strengthening wealth of Chinese elite, a weaker Yuan and the continuing ‘trade war’ between China and the US.
This as a real measurable factor has not really been a driving force in the Upper North Shore market, however, the sentiment of these stories previously created a lot of fear buying in 2015/2016. At present, the majority of the ‘Chinese buyers’ we are seeing are local Chinese, whether their money is not is another story.
The Financial Review released a conflicting article about ‘Data to watch’ for predicting the Australian property market, focusing heavily on Sydney and Melbourne. Some of this data shows potential for market cooling but with wage growth and a predicted rate cut there is also room for growth after the 2018 National cooling across Real Estate markets.
Anecdotally, I have spoken to Agents across the Sydney market who are all praising the influx of new buyers to the market this year with 2018 stock selling early in the piece and an excited onslaught of new listings ready for the market.
The big things to look out for in my opinion will be confidence around the first RATE announcement (Which wont necessarily be a movement, not at least until later in the year). The Election, with conflicting and concerning political promises and the closing of the first quarter or trading across the Sydney Real Estate market.
Positive Vibes.
Thomas Merriman.
Thomas Merriman 