Domain group Senior economist Dr Andrew Wilson, predicts solid growth for Sydney in 2015 as well fuelled by low interest rates, increased investor activity and high level of immigration.
In 2013 Sydney prices recorded a growth of 15.4%, and in 2014 an increase of 14%. Wilson forecast the following growth rates for Sydney regions in 2015;
The 2015 auction clearance rates were at record levels in late summer and this is expected to continue into autumn as well, with boom-time conditions continuing without a slowdown.
At Australian Property Selectors, we caution the investors blindly following the market and emphasize the need to select investment properties for the right reasons. The rents in Sydney have not kept up to the pace with the capital growth in last two years, resulting in low rental yields. Therefore some of the properties sold now will end up draining cash on a monthly basis, from the investors.
We are bullish on pockets of Sydney which are having massive infrastructure developments and employment creation, which will do well in terms of both rent and capital growth. Contact us today, for an obligation free consultation to understand how Australian Property Selectors can enable you to achieve your property investment goals.
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$1.5 million to get a Sydney 3 bed house or a French castle in Bordeaux, is an interesting comparison.