November 2018

Keen Vendors + Buyer Incentives = Terrific Deals!

JLL released their Apartment Market Report for Quarter 3, and to me it made perfect sense.

Some of the key observations that they made for the Sydney market include...

  • Restrictions to credit continue to dampen demand for apartments in Sydney.
  • Developers are incentivising buyers by offering stamp duty rebates, lower deposits, strata levy payments, or rental guarantees.
  • 3134 apartments completed during Q3, bringing the total number of apartment completions for the year to date to 7502.
  • Apartments under construction dropped by 2000 compared to the previous quarter.

Here is the graph they produced which shows the Capital cities and where they sit on the property cycle - note that Sydney is already well into the downturn.

Call me crazy - but when there are keen vendors, buyer incentives, and lower prices - doesn't this all suggest that now is a terrific time to be buying property?

While the media are short-term focussed on the downturn (which JLL says is nearly over), the smart property buyers are taking a long term view and looking one step ahead to the next boom.

We are selling plenty of property all around Sydney, and there are some terrific deals being negotiated.

The old adage with real estate is that you make your profit when you buy. Don't miss your chance to join the party!