Sydney's property market is set for a new boom

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Sydney's property market is set for a new boom with an undersupply of homes predicted to fuel a spike in house prices.

Clearance rates have been sitting above 70 per cent for seven weeks as a limited number of new properties come onto the market. On Saturday, 734 auctions are scheduled for Sydney in the city's biggest test of the market since Easter.

The report also reveals the proportion of Australians living with their parents who believe they will still be at home when they are 30 has jumped from one in five to more than a third over the last two years.CoreLogic’s Asia Pacific research director Tim Lawless said the period of improved housing affordability caused by cheaper house prices was coming to an end."If you look at the numbers … we are going to be facing a situation with an undersupply of housing," Mr Lawless said.

"By the time they get their developments approved and commenced and completed there will be strong demand while we wait for that new supply," Ms Owen said.with a five per cent deposit get into the market each year by going guarantor on their loans. The Grattan Institute’s Brendan Coates told a public hearing on Friday that while a scheme capped at 10,000 a year was "unlikely to make much of a difference" to home values, any expansion would be "counter productive".

 

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Go hard media grubs one day its negative the next its positive make up your minds and stopping guessing and making up stories to sell papers ... the real estate industry have a lot to answer to

nickbonyhady There is an oversupply of rich immigrants

Just build more shoddy high rise apartments for new immigrants. Problem solved.

Has already in spots. 3 weeks ago Watched an auction where the sale price was $500,000 over the reserve price

How about a useful prediction - like the winner of the MelbourneCup

How about too many people creating to much demand.

Real estate spruikers say its time to buy 🙄

Credit bubble with no wages growth.

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