4 Feb 2011
The year 2011 hasn’t gotten off to the best start – floods, fires and cyclones have caused a lot of unexpected changes to the Australian property and it may take months or even years for some parts of our country to recover.
But while some parts of the country will take a while before their property market will get back on track, areas that have remained unaffected by natural disasters are still proving to be popular places to buy and perhaps even more popular than they were before as people look for somewhere safe and unaffected by the recent weather events.
Right here in Casula for example, we have been seeing a lot of property buyers in the market looking for new homes and over time there is a chance that this will escalate as people migrate here from north and south looking for a new place to call home.
Potential property buyers might also be encouraged to enter the market this year after the Reserve Bank’s recent decision to keep rates on hold at the official cash rate of 4.75 percent. Last year it was looking likely that interest rates would go up this month, but with recent events it might be some time before we see interest rates go up again. This is at least a small silver lining for property owners and buyers around the country.
One effect that the western Sydney property market might see from the recent disasters though is a shortage in builders and tradespeople. It is likely that a lot of builders will be travelling to areas where there services are desperately needed right now, so if you are having a hard time finding a builder this year then this could be the reason why.
Despite all of the tragedies around the country though, we are very blessed here in western Sydney and we are likely to see a strong performing property market throughout the year.
If you are interested in looking at homes in the area then the Professionals Paradise Realty
has a great selection of properties to purchase or to rent so please feel free to come to our office and have a chat to us.