Sydney Property Market Update October 2024

Sydney – the city many expect to be a safe bet – is not performing as you'd think.

Sydney has been facing significant headwinds, transforming into a buyer’s market with a surge in listings and higher levels of vendor discounting.

The spring selling season is in full swing, and we’re beginning to see how higher interest rates are slowing down price growth.

But don’t worry, it’s not all bad news.

In my latest YouTube release, we break down everything you need to know about the latest Sydney data and dive deep into 6 critical housing indicators.

We cover everything from auction clearance rates and price trends to housing approvals and rental market shifts. If you're a property investor or just keeping an eye on the market, this is a must-watch.

Key Takeaways:

• Listings Boom: There’s been a significant rise in listings, with vendors more willing to discount in order to close sales. This opens the door for buyers to negotiate and potentially secure better deals.

• Rental Market Shift: For the first time in years, Sydney’s rental market posted a negative quarter, creating ripples that could impact future price movements.

• Job Market and Economic Weakness: Sydney is seeing rising unemployment—a 25% increase in NSW—paired with an overall economic slowdown. While future interest rate cuts will disproportionately benefit Sydney, given its rate sensitivity, it may take multiple cuts over time to significantly stimulate the economy and reignite property demand.

• Population Growth vs. Housing Supply: Sydney’s population continues to grow, but housing approvals and construction starts are steadily declining. This widening gap between supply and demand could lead to intensified competition for housing in the medium term, making it even harder for new buyers to enter the market.

SO here’s the exciting part: there are still hidden gems to be found.

While the market is cooling, it's creating new opportunities for savvy investors who know where to look.

In the video, I uncover three hidden investment opportunities that are flying under the radar, and explain why they may offer significant upside in the coming years.

As the saying goes,

“The best time to plant a tree was 20 years ago. The second best time is now.”

With interest rate cuts on the horizon and major infrastructure developments in Sydney, smart investors are those who stay ahead of market shifts.

Check out the video, understanding what’s happening right now in Sydney could make all the difference in scoring your next big win.