29 Jan 2010
The property market is absolutely booming right now and it shows no sign of slowing down anytime soon.
Last year despite the global financial crisis median house prices in Sydney rose by 12.1 per cent over the year. Many believe that the rises in property prices last year were fuelled by government incentives that encouraged buyers to get into the property market.
Incentives such as the federal first home owners boost were great for the property market last year as they got people interested in what was at this time last year, a slow market. Now though the economy is doing much better and people are earning more than they were last year. People have also regained their confidence in the property market so we’re seeing a high number of people wanting to make significant investments.
Those clever enough to enter the property market last year and even at present will be laughing all the way to the bank, as housing prices show no sign of slowing down for a while. Australia is in a unique situation where we have a rising population and not enough houses to go around, so the demand for housing is very high. If you want to get into the property market it would be advisable to do it sooner rather than later.
I know that we’re currently very busy in our Professionals Casula office with first home buyers still coming in and buyers, who’re wanting to upsize, downsize or invest. So there are all sorts of people interested in the property market here right now.
Let’s hope that the property market keeps up with all this energy and if you’d like any information about the Casula property market feel free to get in touch with me via my contact page or by leaving a comment!