• John Liu

May Property Market Update

May Property Market Update

This May we’ve not seen the usual slow down we experience in the property market as we head into colder months and the end of financial year. Sydney’s median sale price grew 2% in the last month and new purchase loan activity is 38% higher than this time last year indicating that buyers are not holding off on their searches.

The challenge in the market continues to be the lack of stock, with buyers purchasing faster than listings can come onto the market.

With the Federal Budget released mid-May we also saw more incentives around affordability including the Family Home Guarantee and increased contribution to the First Home Super Saver Scheme as well as an extension of the New Home Guarantee and Home Builder.

There’s been a strong reaction to these policies including a 41% year on year increase in applications for construction loans.

With clearance rates still at all-time highs for almost 4 months straight, it looks like anytime may be a good time to sell this year.

John Liu

Sales Manager

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