12 Aug 2010
Even though property prices have been dropping (as I blogged about yesterday
) housing is still expensive in a lot of areas around Sydney, and home buyers are looking to purchase homes on the more affordable end of the scale.
In fact it looks like people are starting to shun the luxury housing market to find cheaper housing. While June housing figures recorded a drop of 0.7 percent, home values in the cheapest 20 percent of suburbs (which included Liverpool), only recorded a drop of 0.2 percent.
This shows that buyers are looking for good-valued homes without the massive price tag attached.
Investors in particular are showing an interest around the western parts of Sydney, where housing is affordable, plus there are good rental returns and low vacancy rates.
There are even predictions that first-home buyers might start to re-enter the real estate market again now that interest rates are remaining steady and with property prices starting to settle down.