Six reasons why home prices are tipped to rise in 2023 SydneyRealEstate
“We are seeing roughly the same amount of listings for sale as 12 years ago, which is concerning,” Mr Paliwal said.Higher demand could push up prices again after a year of downturn. Picture: Julian Andrews.
He said the next round of tax cuts, along with the removal of stamp duty for first home buyers in NSW could improve the borrowing capacity of some purchasers while the rising cost of rent could prompt more people to consider buying while prices are down. He said property downturns typically didn’t last as long as upswings or flat periods, and that prices had consistently been falling for close to a year.“There comes a point in time where people do see value,” he said.Mr Paliwal said interest rates could soon hold steady while the 3 per cent assessment buffer used by banks could potentially be wound back, enabling more borrowers to pull the trigger on their purchases.
While he tipped prices to rise 5-8 per cent in Sydney next year, he said a further softening before this was likely.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
George, Charlotte and Louis to make appearance at more events in 2023Showstopping trio Prince George, Princess Charlotte and Prince Louis are set to take on a more active role at official events in 2023 to the delight of royal fans as they are “gradually introduced to the life that awaits them'.
Read more »
Labor must turn back to Hawke-Keating in 2023OPINION: The Productivity Commission’s ‘to-do list’ is the incentive-sharpening agenda Labor needs to run with to help Australia grow.
Read more »
Why property prices have further to fall in 2023This week in The Fin podcast, deputy property editor MichaelBleby explains the housing market’s wild ride in 2022, why prices are still falling, and what might happen next year.
Read more »
Why property prices have further to fall in 2023Deputy property editor Michael Bleby explains the housing market’s wild ride in 2022; why prices are still falling, and what might happen next year.
Read more »
China Covid infection surge puts end of global emergency in doubt – WHOExperts warn China could see a million Covid deaths in 2023 as the US offers assistance
Read more »
The two big risks (and one opportunity) investors must assess in 2023After a tumultuous 2022, investors must be prepared for even more uncertainty next year. Here are three ways to frame your thinking.
Read more »