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Improving sentiment is now being reflected in rising markets in both Sydney & Melbourne.
Auction clearance rates are improving and prices are starting to rise again after the latest down-cycle with most property experts agreeing that the bottom of these markets has been reached and they are entering recovery mode.
With first home-buyers bounding into 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 2019:
Recent months have recorded a growing body of evidence of recovery in Sydney markets. Clearance rates have steadily improved and the price data from multiple sources suggests the downturn has bottomed.
Our Winter survey of sales activity and prices delivered similar conclusions. It pinpointed the bottom of the Sydney trough. It also highlighted a high degree of resilience, with steady markets outnumbering declining ones, keeping in mind that much of the data pre-dated the post-election fightback.
Our latest Top 5 Sydney Hotspots covers the best of these markets - some top end areas that have shown resilience over the past year and look set to deliver strongly as Sydney overall recovers, and some of the more affordable locations that are poised to benefit from major infrastructure projects.
Top 5 Melbourne Hotspots 2019:
Even during the recent downturn, there have been areas showing resistance with their pricing levels. Apartment markets in particular are holding up well and there are more suburbs with rising unit prices than those with prices down.
Melbourne continues to show that, even in a city with a distinct overall trend, there are many diverse scenarios in play. Different sectors are producing different results, both with sales activity and with price outcomes.
The locations highlighted in this report are ones that offer good long-term prospects because of their inherent local qualities. They’re places that have shown resilience amid the recent market correction and have good credentials for future growth.