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Smartline NSW Property Market Update – March 2017

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I’m pleased to share with you the latest of Smartline’s monthly state-based property updates.

In the video, CoreLogic Research Director, Tim Lawless, presents for Smartline the latest housing data for NSW.

 

This month’s key trends include:

–        Sydney prices are continuing to rise and have reached the fastest pace of annual growth since December 2002.
–        Capital growth was up 4.5% over the quarter with a rise of 18.4% over the last 12 months
–        The strong growth has provided substantial wealth for home owners; however, it has made homeownership increasingly out of reach for first home owners and low income families.
–        Affordability in Sydney is at an all-time low with dwelling prices 8.5% higher than gross household incomes.
–        The growth is primarily due to strong economic conditions based on a strong services-based economy which has led to strong full time jobs growth
–        Strong migration from overseas and interstate has also been fuelling demand
–        The strong capital growth has also resulted in severe compression in rental yields, which are now at 2.8% for units and 3.8% for houses

I hope you find the video of interest. Let me know if you have any feedback or want to discuss anything.

Your Mortgage Adviser

Odette S.

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