May 2008

Welcome to House Search News for May 2008

HOME BUYERS PARADISE !

It’s a home buyers paradise in many suburbs of Sydney as more listings with less demand entice those looking for bargains.

APM (Aust Property Monitors) reports that, compared to the same time last year, there are now 29% more listings on the market in NSW (April 24)  Sydney, in particular, has more listings than normal as forced sales mean more stock on the market.

This represents opportunity, for both investors and home buyers, particularly for those counter cyclical purchasers who ignore the media hype and concentrate on the numbers, fundamentals and rising rental yields instead.

Home buyers have more reason to celebrate as more stock to choose from usually means increased room for negotiation.

Interest rates may be uncomfortably high for some, leading to sellers having no option but to add to the increasing listings, but this part of the cycle may well be the time to take action and buy in Australia’s most internationally recognised and growing capital city.

Warm Regards

Jacque Parker

Director
House Search Australia

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Market Update – Sydney Property News

With recent clients in the beautiful Hills District of Sydney, this month’s news focuses on this popular expanding North West region.

As Rouse Hill Regional Town Centre recently opened Stage 2 of it’s enormous user friendly new shopping centre, residential building continues to grow in the surrounds.

Whilst new houses proliferate, there’s also value to be had in investing in the usually larger blocks of established residential areas, which are home to infrastructure already in place and closer to existing transport links.

If the State govt’s recent announcement about installation of a light rail goes ahead, however, then this region of Sydney will be even better placed to enjoy the benefits of faster travel times to the CBD

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Suburb Spotlight – Beecroft

A well established leafy suburb of Sydney’s northern districts, Beecroft is made up largely of older homes on large residential blocks and has the benefit of rail access.

Some facts about Beecroft:

• Size approx 5km square
• Predominant age group of 10-19yrs
• Predominantly couples with children
• Predominantly professional workers
• Over 87% owner occupied housing
• Current median price $895 000 for houses.
• 27km from Sydney CBD

(Source: RPData)

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