Interesting trends in our local property market

By Harcourts

In the latest Month In Review report, published by independent property valuation and advisory groups, Herron Todd White, they highlighted some interesting trends about what is currently happening in our local property market. Following is an excerpt from their full report:

The south west Sydney property market has traditionally been resilient against the increase of cost of living pressures. Our prediction is the post-Christmas hangover and the outlook of another year of interest rate stress is going to see the broader market soften with an increased number of properties hitting the market early in the year, coupled with buyers being more cautious.

Good quality owner occupied family-orientated neighbourhoods like Abbotsbury, Elizabeth Hills, Edmondson Park, Denham Court, Harrington Park and Oran Park will continue to demand strong interest due to broader affordability, proximity to services and the appealing family lifestyle they

The performance of the vacant land market will be location based. Growth areas like Austral are predicted to struggle due to lack of infrastructure whereas land releases around desirable locations within close proximity to services like Catherine Field, Gledswood Hills, Cobbitty are
predicated to continue to attract strong buyer demand. Buyer due diligence is paramount in 2024 to ensure you are not spending more than what your land and construction are worth as a completed product.

The rural lifestyle market will continue to perform well due to a lack of supply and displaced residents from the south west growth areas seeking to buy back into a rural setting.

The traditional unit market around Liverpool and Campbelltown will continue to be slow.

If we are looking at our ‘value for money’ pick for 2024, we can’t go past fringe Campbelltown LGA suburbs such as Ruse, Airds and Bradbury where you can still buy a house for under $800,000.

The Macarthur Region is set for large growth in the next 10 years with Campbelltown positioned to be the main hub. These fringe areas are seen as a great medium-term investment through gentrification opportunities.

Herron Todd White is one of the largest independent property valuation and advisory groups in Australia.

To view the whole report Australia wide, click here:

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