Trends to expect in 2018

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The property market in Sydney in 2017 saw Sydney’s median house price rise by over $530,000. The following is a snapshot of the trends to expect in 2018:

 

  1. Financial markets predict the Reserve Bank will lift the official cash rate off the record low 1.5 percent level late in 2018.
  2. Cooling of property prices. The following shows the forecast for metropolitan areas: 

Source: ANZ Research

3. The Return of first home buyers

Source: ANZ Research

4. The stamp duty taxes on property transfers are seeing people upgrade or renovate their existing dwelling. The following is a graph showing the meteoric rise adjusted for inflation:

sydney-strata-management-stamp-duty-17-pm

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Parties and loud noise

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When it comes to noise complaints, parties and strata management, it is against the law to affect the sleep of others. Please check your building or states laws, as they may differ:

Take a look here. 

best-strata-managerIf you or your tenant wish to lodge a complaint about the noise of a neighbour, calling the police should be your last resort.  This creates conflict and, at times, an uncomfortable living environment moving forward. We advise that you do your research regarding your specific situation, especially on the laws and policy, before escalating further. If you have a relationship with the neighbour in question, try and resolve in a reasonable and friendly manner.

Alternatively, the owner’s corporation can be used to issue your neighbour with a compliance notice if all else fails.

Please keep in mind that if you are planning an event or party of your own, you should advise your neighbours prior to the event. Not only does this show respect to those in close proximity to you, they will appreciate the thought and gesture.