House prices set to climb
10 Feb 09
WESTERN Sydney house prices will increase,according to local real estate agent Phillip Starr.
Market forces and an imbalance of supply and demand would bring good news for
investors and limited opportunity for first home buyers, the Starr Partners director said.
"Falling rates, a temporary hike in the first home buyers grant and population
growth will put pressure on house prices in Sydney's west.
"Most of the new immigrants arriving in Sydney settle in the greater west, and the
vacancy rate here is the tightest we have seen in decades.
"Partly as a result, rents have already increased 20 per cent in the last two years
and this rate of increase will continue."
With the increase in the first home buyers grant and reductions in rates, many tenants
are all of a sudden in the position to buy a home, Mr Starr said.
This would create demand in the next few months because of the June 30 deadline, he said.
"This will create a pull-forward effect."My prediction is we will see supply
shortages of properties under $400,000."This will put upward pressure on prices
of 5 to 10 per cent over the next 18 months."
"So in summary if you are looking to buy or sell now is the best time to consider making that move ."
Please feel free to contact Phillip Starr should you wish to discuss this further
House prices set to climb
WESTERN Sydney house prices will increase,according to local real estate agent Phillip Starr.
Market forces and an imbalance of supply and demand would bring good news for
investors and limited opportunity for first home buyers, the Starr Partners director said.
"Falling rates, a temporary hike in the first home buyers grant and population
growth will put pressure on house prices in Sydney's west.
"Most of the new immigrants arriving in Sydney settle in the greater west, and the
vacancy rate here is the tightest we have seen in decades.
"Partly as a result, rents have already increased 20 per cent in the last two years
and this rate of increase will continue."
With the increase in the first home buyers grant and reductions in rates, many tenants
are all of a sudden in the position to buy a home, Mr Starr said.
This would create demand in the next few months because of the June 30 deadline, he said.
"This will create a pull-forward effect."My prediction is we will see supply
shortages of properties under $400,000."This will put upward pressure on prices
of 5 to 10 per cent over the next 18 months."
"So in summary if you are looking to buy or sell now is the best time to consider making that move ."
Please feel free to contact Phillip Starr should you wish to discuss this further
House prices set to climb
WESTERN Sydney house prices will increase,according to local real estate agent Phillip Starr.
Market forces and an imbalance of supply and demand would bring good news for
investors and limited opportunity for first home buyers, the Starr Partners director said.
"Falling rates, a temporary hike in the first home buyers grant and population
growth will put pressure on house prices in Sydney's west.
"Most of the new immigrants arriving in Sydney settle in the greater west, and the
vacancy rate here is the tightest we have seen in decades.
"Partly as a result, rents have already increased 20 per cent in the last two years
and this rate of increase will continue."
With the increase in the first home buyers grant and reductions in rates, many tenants
are all of a sudden in the position to buy a home, Mr Starr said.
This would create demand in the next few months because of the June 30 deadline, he said.
"This will create a pull-forward effect."My prediction is we will see supply
shortages of properties under $400,000."This will put upward pressure on prices
of 5 to 10 per cent over the next 18 months."
"So in summary if you are looking to buy or sell now is the best time to consider making that move ."
Please feel free to contact Phillip Starr should you wish to discuss this further