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Evidence now support the recovery active in both Sydney & Melbourne markets.
Buyer demand is rising in both cities and this is generating rising prices across many (but not all) areas.
With first home-buyers dominating the market, investors need to act now to avoid missing opportunities.
Find out the best places to buy for long-term growth and returns.
Top 5 Sydney Hotspots 2020:
Sydney Mounts A Strong Recovery, But The Revival Is Not Evenly Spread
This is the strongest Sydney market we have recorded in the five years we have been conducting our quarterly sales surveys. Greater Sydney has 67 suburbs with rising buyer demand, compared with 18 six months ago.
- The number of suburbs classified as declining markets( in our Autumn 2020 survey) has dropped from 66 suburbs six months ago to 12.
- There is evidence that prices are responding to the overall uplift in buyer demand, but to date few locations have returned to the pre-downturn levels of pricing in 2018. Only 8% of suburbs have recorded annual growth in their median house prices while 15% of suburbs have had year-on-year growth in their median unit prices.
- The suburbs with growing sales activity are spread across 22 municipalities in the Greater Sydney area.
- The greatest uplift is being felt at the upper end of the market.
- There are still 12 suburbs in the Greater Sydney Area which we classify as danger markets
So the Sydney story heading into 2020 is one of recovery - but buyers need to be aware that this recovery is not universal across all areas and do their research.
Out Top 5 Sydney Hotspots will give you the data on which areas are leading the recovery and why they are positive prospects for continued growth.
Top 5 Melbourne Hotspots 2020:
Melbourne has negotiated the difficult post-boom correction phase and is now clearly in recovery mode.
The turn-around in overall fortunes in the Melbourne metropolitan area since the middle of 2019 has been characterised by dramatic improvement in auction clearance rates and recent evidence of a revival in price growth.
Most Melbourne suburbs still have median house prices below the levels of 12 months ago, but in the most recent quarter their medians have risen.
In making our selections for this edition of Top 5 Melbourne Hotspots, we have highlighted areas that have shown resilience during the downturn, have offerings that are affordable to mainstream buyers and have solid credentials for long-term, sustainable price growth.
Overall, it’s a good time to be considering real estate investment in Melbourne and we expect 2020 to be a vibrant year for markets in the Victorian capital and out Top 5 Melbourne Hotspots give you the best options for returns and growth.