We predict the year ahead will be another bumpy ride, but all in all, we expect it to be a successful year when it comes to property sales.
These are my top three predictions for the Sydney property market in 2019:
1. The market softening is probably going to continue, however, consumers will need to become accustomed to the new lending methods, then things should start to level out. This is the new norm in real estate.
2. The main issue around property prices is people haven’t been able to borrow as much money as they used to and it’s been a slow process, but in 2019 loans should be approved in a faster manner. Consequently, sales should start to go back to where they were, in due time of course.
3. Property prices might not be at an all-time high right now, but property transactions will remain high through 2019. In 2018 we transacted the same number of properties as 2017, and 2019 will be no different.
You need to remember that properties are still selling, so don’t fear yours wont, because it will. This drop in the market isn’t something new. It happens and it’s normal, so remain hopeful.
If you have any questions, feel free to contact our team anytime.