Your Empire June Market Report
Thanks, Your Empire Team for sharing your June Property Report for 2023. The reports host is Zoran Solano, from Hot Property Buyers Agent, based in Brisbane, with guests, Lauren Staley, infolio Property Advisors Melbourne and Chris Gray from Your Empire, Sydney.
This video is designed to cut through the media hype and get real on-the-ground information directly from top buyers agents, supported by CoreLogic Home Value Index Data, in the three major capital cities of Australia.
What are the key takeaway tips?
The market is on the run, driven by the under-supply.
Sydney has increased 4.5% in the last 3 months, with Melbourne +0.9% and Brisbane 1.4% also recovering strongly.
It is important to note that the market has seen 3-4 months of positive growth.
It is not too late to get into the market with RBA increasing interest rates by .25 essential points for the cash rate, now is a good time to buy.
With interest rates predicted to rise one or two more times this year; it is predicted to be more stock coming onto the market.
If you can hold onto those properties and forgo those luxury items, the sacrifice will pay off in 10 years’ time.
It is the best environment to be an investor, with excellent rental returns and a low supply of available properties, driving up yields for savvy investors.
There is never the perfect time to get in the property market, always buy when you can afford it before interest rates increase, and affect your serviceability, or there is another run in the property market and you are unable to afford the property again.
Currently, there are not that many buyers looking; the feeling on the ground is that there are more fence-sitters.
Blue Chip suburbs rarely have a sustained downturn.
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