The 2023 MyCity Sydney Report provides a comprehensive guide for those looking to invest in property in Sydney. The report, created for aspyragroup customers, offers insights on the city’s housing market, including the latest data and trends.
Sydney is considered the epicenter of Australian real estate and owning a property in the city is considered a valuable investment. However, the city is facing a housing crisis due to a growing population and a lack of available properties. The opening of international borders has brought an influx of new migrants, who are mostly choosing to rent instead of purchase, further increasing demand and putting pressure on the rental market, particularly in university areas.
Experts predict that the Sydney market will be multi-speed in the short-term, with affordable properties under $1 million forecast to perform well and outperform more expensive properties. Prices are expected to pull back, but less so in the affordable market. The middle to upper housing markets are expected to see a significant decrease in 2023, as interest rates have a greater impact on non-tax-deductible home loans. This may lead to an inaccurate perception that all Sydney property is losing value, despite the fact that prices have grown by 50% in the last three years.
Overall, the MyCity Sydney Report provides valuable insights on the city’s housing market and is an essential guide for those considering investing in Sydney property.
To More information click here…https://aspyragroup.com.au/
