Sydney housing value stabilises as it rose by 0.6% in Jan
The housing value of the capital is showing signs of stabilising while we brace for the return of international tourists.
According to CoreLogic’s Home Value Index, Sydney rose another 0.62% in January, up 0.81% from last month, as the housing market in the capital city is showing signs of stabilising, although continuing to grow month by month.
CoreLogic’s Research Director, Tim Lawless, suggests that
“A softening in growth conditions has been influenced by less government stimulus, worsening affordability, rising fixed term mortgage rates and, more recently, a slight tightening in credit conditions, and a surge in new listings through the final quarter of last year.”
However, with the return of migrants and international students, it is expected to put an upward pressure on both the property market and rental market. Find out which suburbs are the most popular among international students.
A spike in the demand for units and apartments is also anticipated. Units have lagged the growth for standalone houses during the pandemic, and have become the more viable options for many young and first home buyers. Browse quality residential projects.
