Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Investor market thrives as hotspots announced

Staff Reporter 4 minute read

Property prices are expected to climb 10 per cent this year, according to McGrath Real Estate.

In his latest market review, the real estate’s chief executive John McGrath has said property prices should continue to rise on the back of limited supply.

Moreover, Mr McGrath said investors and upgraders would also be responsible for an uptick in property prices.

“The first two quarters of 2010 will be the launch pad for a long period of sustained growth in Sydney property prices,” he said.

Advertisement
Advertisement

“I predict gains of 8 - 10 per cent in most areas this year. We saw a sneak preview in the last quarter of 2009 when properties between $250,000 and $1.5M all seemed to be enjoying a price surge due to increased buyer activity, notably at the lower end before the First Home Owners Boost disappeared. In 2010, there will be further upwards pressure on prices across the board due to low supply and high demand, particularly from upgraders and investors.”

Mr McGrath said he was encouraging investors to buy in areas they know.

Dishing out his top 10 picks for investors in 2010, Mr McGrath said Cammeray in NSW would be the best performing suburb this year in terms of house prices.

“I think Cammeray will be closely followed by North Wollongong, Queenscliff, Dee Why and Coogee,” he said.

Rounding off his top 10 investor suburb picks, are Lane Cove, North Parramatta, Erskineville, Surry Hills and Ryde.

PROMOTED CONTENT


Investor market thrives as hotspots announced
default
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

default

 

more from the adviser
handshake news MyState names banking general manager

A former broker head has returned to MyState Bank, to tackle turn...

BBS 2021 ta SA/NT’s top brokers crowned

The leading brokers in South Australia and the Northern Territory...

Paul Kearney ta AFCA recruits from ME Bank

The complaints authority has named a new executive general manage...