Sydney houses to rise 10pc
Sydney is known as Australia’s top performer in terms of the housing market, there is no doubt that Sydney has just out performed 10 major cities in 2015 capital growth ranking. The trend in capital growth is expected to climb throughout 2016 according to Knight Franks shows.
HOME789’s CEO Walton Chu was interviewed by Australian Financial Review, where he also made the 10% call for 2016 property price growth, ‘Although the Sydney market is cooling down, vendor expectations remain high as the population will keep increasing in Sydney’.
According to a predicted growth forecast major capital cities such as London and New York are expected to flourish by 1.7 % in 2016. Sydney, in comparison, sets the benchmark shooting ahead by a whopping 10% growth.
Sydney is a real game player when it comes to the economic world stage, cities with the closest growth rate just falling behind Sydney are famous New York and Lavish Monaco, both sitting at 5% expected growth.
Even though Sydney is leading ahead with 10% growth, the city is still highly affordable for the average bob due to significant income. The sqm rate is currently on par with Geneva and Singapore, averaging about $20,000 - $30,000 per sqm.