Wednesday, 22 July 2015

The quarter that was...

This quarter has seen continued strength in the local property market, although we have experienced a slight shift in buyer interest, Fuelling the ongoing  fire that is the Sydney property market, the Reserve Bank's decision to hold interest rates at a record-low 2.0%, has caused the banks to take coool-off measures into their own hands. A move which over the next quarter, will continue to lock-out first home buyer an gradually deflate investor interest.

Heading into a new quarter APRA's pressure on the big four banks to reduce capital investment below the 10% and increase mortgage capital levels has seen Westpac's recent announcement of an increase to its minimum deposit to 20% to curb investor growth. This is a disheartening move for first-home buyers with a study by comparative website Mozo supporting that an average of 10 years will be needed by first-home buyers to save for a 20% looks like the 'kids' will be living at home for a while.

Globally, the Greek debt crisis and Chinese stock market crash are also factors driving down the gradual relaxation of investor interest with the ASX 200 falling by 0.6% to recover, in the roll over to the new financial year.

The changing economics of the property market has seen and influx of properties to the market in the lead up to the end of the financial year, with investors taking advantage of the capital gains tax delay. The increase of supply will soften proces slightly which is a positive sign for buyers, however with the increasing desirability of the Macarthur area spiralling buyer interest into a frenzy, vendors should not be deterred from cashing in on their property while the market is red-hot.

Named within the top 10 growth regions of Sydney by, Macarthur is a major growth hub. The area offers not only rail corridor access, but also connection to the Sydney Motorways and airports with plans for Badgerys Creek airport a welcomed convenience to the south-west. Encourage by ongoing planned infrastructure in the Macarthur region and upgrades to Narellan Road, people are flocking to the area.

Thanks for joining us for our quarterly snapshot of what has been and the exciting quarter to come!

We look forward to seeing you at our open homes this weekend.


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