The Sydney apartment market continues to sizzle during the Spring buying season. The first signs of this mini boom
appeared 3 months ago when we saw apartments on Sydney’s lower North Shore go under offer after only one or two viewings.
First home buyers competing with investors and both fired up with lower interest rates struggled to get enough stock. Throw in Buyer Agents trying to pick up stock before auction and you get a perfect storm for the Sydney property
We have been talking about Chinese investment into Australian residential property for the past 12 months. Even the Federal Government is encouraging it through the Significant Investor Visa or SIV for wealthy Chinese with $5.0 million to invest.
Last week saw the first purchase of a property in Vaucluse for $8.5 m under the SIV or “Golden Ticket
The first Chinese buyer under the new Significant Investor Visa category, or 888 visa, has purchased in Sydney this week.
We flagged this change some 12 months ago as potentially creating a “tidal wave” effect for property prices in Australia. And what a time for this to gather momentum with stock shortages and the Spring buying season approaching!
“By Shane Clinton”
The Sydney property market is booming
. Ok so tell me something I don’t already know.
What is the hottest area in Sydney. Well if we look at the number of cranes dotting the skyline and development applications lodged with Rockdale City Council , Wolli Creek is the boom area
. It’s proximity to the city, 15 minutes by rail and serviced by its own station, close to freeway infrastructure and minutes to the airport, the only question is why did it take so long.
There is plenty of money to be made in the Wolli Creek Property Gold rush and it’s got a long way to go.