News & Events
This Week In Property
5 THINGS YOU NEED TO KNOW THIS WEEK - 23 JULY 2019
Keep up to date with all the latest news from the Australian property market this week.
- Auction clearance rates are at an 18-month high in Sydney – but off a very low base. Real estate commentators are predicting a very slow spring, with much lower numbers of homes for sale across Sydney.
- Confidence among property professionals is higher than its been for more than a year, according to NAB’s latest Residential Property survey. The bank is tipping home prices will rise sooner than expected, before the end of 2019.
- Foreign buyers are starting to come back into the market. Melbourne in particular has been singled out by buyers from Hong Kong, but Sydney is also seeing an increasing number of foreign purchasers as well.
- Apartment developers continue to remain under the spotlight at the moment, as the full extent of the combustible cladding issue for high-rise buildings starts to become apparent. The cost of replacing flammable cladding on high-rise buildings across Australia is tipped to reach the billions – and apartment residents are fighting to make sure they’re not left footing the bill.
- The NSW government is continuing to develop tougher building industry regulations to address the growing problem of building defects in apartment buildings. It’s a good time to consider building a detached home instead…
Now is the perfect time to speak with a Thrive Homes Sales Consultant about building your new home, so why not get in touch today!