We have good reason to be optimistic about the property market as we enter 2020.
Just as I predicted, 2019 ended on the back of some massive growth nationwide that has once again been led by Australia?s two biggest cities.
Buyer confidence is up. Expect to see a lot more people looking to buy in the first quarter of 2020.
Our major cities record steady price growth
CoreLogic?s most recent property dwelling value report shows steady growth in Melbourne and Sydney’s property values.
Melbourne?s property values shot up 2.2% in November, rounding off an impressive 6.4% growth over the previous three months.
Sydney enjoyed a 2.7% increase in property value in November and a 6.2% increase for the quarter.
Nationally our dwelling values are up for the first time since April 2018 (0.1%) and we feel this trend will continue throughout 2020.
What does this positive property growth mean for buyers?
Auction clearance rates are at 70% – much higher than the past 12 months – meaning there is healthy competition to purchase property right now.
If you?re looking to enter the property market in these favourable conditions, book a chat with me today.
Let’s help you stay ahead of the market and get you into your dream home at the perfect time.