2017 review and the state of Sydney Strata Management.
In 2017 Sydney and NSW has seen growth in housing and unit prices and demand. Sydney remains one of the worlds most expensive places in regards to property prices. Sydney Strata Management is changing along with the market trends and changes. Here is some interesting information on the market and how it will affect your investments and strata management.
The following is an overview:
- House and unit prices in close proximity to Sydney CBD now exceed $1m. The median house price has passed $1.3m.
- Buyers and owners will find it difficult to find a house under 1m with-in 25km from the CBD. Discounts on Stamp Duty for first home buyers (Properties up to 880k) are affecting growth as they normally do in this area.
- Newcastle, Central Coast and Wollongong have risen and becoming growth corridors in NSW.
- The recent and improved light rail construction in Sydney has seen many properties in close vicinity to the new network flooded with investors and interest.
- Trends towards property purchases in the inner city of Sydney remain the top draw for buyers. See our post about the Top 10 most desirable suburbs here.
- The affordability of properties and availability of high-quality amenities are also pushing the apartment market forward in the Northern Beaches and eastern regions.
- Housing shortages are contributing and keeping demand high in inner Sydney as the population grows.
- Low-rise suburban apartments near activity centres remain a profitable option for investors.
If you would like to talk to one of our experts about how the above effects you and how Sydney Strata Specialists can help manage your property, call us today for an obligation free review of your current Strata plan. Contact us via the website or the following if you want to ensure your property is in the most capable hands:
02 8005 3850