The Times Australia
Mirvac Harbourside
The Times Real Estate

.

It’s a case of ‘welcome to the new market

  • Written by Tim McKibbin, CEO of the Real Estate Institute of NSW (REINSW)

It appears apartments are back in vogue. Recent Urbis figures indicate off-the-plan  apartment sales in Sydney rose sharply in the September quarter at a rate double that  of the June quarter and about four times that of the March quarter.

With this shift in appetite for apartments comes some interesting demand factors which could influence both sales and rents.

In coming weeks, the first international students will begin arriving back in Sydney. Two  flights of 250 students each will touch down in December, with more flights arriving  every two weeks moving forward on an indefinite basis. 

The phased approach could see thousands of students arrive back in Sydney next year,  applying steady pressure to the rental market.

At the same time, the new wave of apartment completions is set to decline, creating an  environment which should enable newly-completed stock to be absorbed, especially if  investors react in numbers to the changing demand picture.

While price growth overall may be easing, the median house price in Sydney is still  about $1.5 million. ANZ has forecast Sydney house prices to grow about 6 percent next  year before a slight decline of 4 percent the year after.

With greater choice and the potential for increased demand, the more affordable  apartment market will be one to watch.

In Sydney, the surge in listings is the strongest it has been all year. We often talk about  demand outstripping supply, and based on pure numbers, that remains the case. 

But the weight of new listings is having an impact, as it must. Clearance rates remain  healthy though, which is a good indication of the market’s resilience.

The market is finishing the year on a crescendo of sorts. More listings, more optimistic  vendors, and more buyers who are feeling more empowered than they have for some  time.

It’s a case of ‘welcome to the new market’, a place where buyers can expect value and  vendors can be confident. Something for everyone.

It’s fitting to say that, because the market is cooling, it’s in a healthy place. And as  global inflation fears swell to give rise to rate adjustment concerns at home, it’s worth  reminding ourselves that a healthy residential market is not one to tinker with.

Property Times

Rubber vs Concrete Wheel Stops: Which is Better for Your Car Park?

When it comes to setting up a car park in Perth, wheel stops are a small feature that make a big difference. From improving driver accuracy to preventing costly damage, the right choice between rubber and concrete wheel stops could save you time, mon...

What Is the Australian Government First Home Buyers Scheme About?

For many Australians, buying a first home can feel like a daunting task—especially with rising property prices, tight lending rules, and the challenge of saving for a deposit. To ease this burden, the Australian Government has introduced a First ...

Flipping vs. Holding: Which Investment Strategy Is Right for You?

Are you wondering whether flipping a property or holding onto it is the better investment strategy? The answer isn’t one-size-fits-all. Both strategies have distinct advantages and risks, and choosing the right one depends on your financial goals, ...

A Guide to Smarter Real Estate Accounting: What You Might Be Overlooking

Real estate accounting can be a complex terrain, even for experienced investors and property managers. From tracking rental income to managing property expenses, the financial intricacies of real estate demand more than just basic bookkeeping. A si...

Mirvac Harbourside

Times Magazine

Building a Strong Online Presence with Katoomba Web Design

Katoomba web design is more than just creating a website that looks good—it’s about building an onli...

September Sunset Polo

International Polo Tour To Bridge Historic Sport, Life-Changing Philanthropy, and Breath-Taking Beau...

5 Ways Microsoft Fabric Simplifies Your Data Analytics Workflow

In today's data-driven world, businesses are constantly seeking ways to streamline their data anal...

7 Questions to Ask Before You Sign IT Support Companies in Sydney

Choosing an IT partner can feel like buying an insurance policy you hope you never need. The right c...

Choosing the Right Legal Aid Lawyer in Sutherland Shire: Key Considerations

Legal aid services play an essential role in ensuring access to justice for all. For people in t...

Watercolor vs. Oil vs. Digital: Which Medium Fits Your Pet's Personality?

When it comes to immortalizing your pet’s unique personality in art, choosing the right medium is ...

The Times Features

Do kids really need vitamin supplements?

Walk down the health aisle of any supermarket and you’ll see shelves lined with brightly packa...

Why is it so shameful to have missing or damaged teeth?

When your teeth and gums are in good condition, you might not even notice their impact on your...

Australian travellers at risk of ATM fee rip-offs according to new data from Wise

Wise, the global technology company building the smartest way to spend and manage money internat...

Does ‘fasted’ cardio help you lose weight? Here’s the science

Every few years, the concept of fasted exercise training pops up all over social media. Faste...

How Music and Culture Are Shaping Family Road Trips in Australia

School holiday season is here, and Aussies aren’t just hitting the road - they’re following the musi...

The Role of Spinal Physiotherapy in Recovery and Long-Term Wellbeing

Back pain and spinal conditions are among the most common reasons people seek medical support, oft...

Italian Lamb Ragu Recipe: The Best Ragù di Agnello for Pasta

Ciao! It’s Friday night, and the weekend is calling for a little Italian magic. What’s better than t...

It’s OK to use paracetamol in pregnancy. Here’s what the science says about the link with autism

United States President Donald Trump has urged pregnant women[1] to avoid paracetamol except in ...

How much money do you need to be happy? Here’s what the research says

Over the next decade, Elon Musk could become the world’s first trillionaire[1]. The Tesla board ...