Has the Sydney market hit bottom?

Subject: Has the market hit the bottom? Anonymous: LOL, no way. I’ve got $25K I’m waiting to stick in for the year, and this is nothing. I really try not to time the market, but it’s so tempting. I’m waiting a little bit longer.

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Well, anyone from our most westerly capital could tell you, the whole state has been in decline since its peak in the first half of 2014. To put this in perspective, the Sydney housing market hit its peak at the end of 2017. The perth housing market has taken a 13% slide since the last mining boom when the median house price peaked at $616,000.

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The biggest question buyers have in Sydney and Melbourne today is: "Are we there yet?". In other words, have we hit the market floor? After two years of falling property values in Sydney and Melbourne, plus some falls or softening growth in other cities as a result of credit tightening, I think the bottom is very close.

4 Reasons to Buy A Home This Summer 4.0Kshares 2.9K 117 103 878Here are four great reasons to consider buying a home today, instead of waiting. 1. Prices Will Continue to Rise CoreLogic’s latest Home Price Index reports that home prices have appreciated by 7.1% over the last 12 months. The same report predicts that prices will continue to increase at a rate [.]

This is a subject that can lead to some spirited debate. Some experts say that the market is still dropping, and others say that the bottom has hit. I thought that the beginning of 2009 would be the bottom, because the Fall and the holidays are usually very slow times for real estate transactions, and [.]

 · Leading property analysts believe the Sydney market is set to bottom out by spring and hit positive territory by the end of the year on the back.

Best Answer: Generally that "bottom" question can only be truthfully answered in hindsight months after it has happened. As to the rest of your question. I think there is still a chance of going lower and that we will have more time to buy. On the other hand your comment about prices being low, a bargain, is also true if you are willing to wait and not get scared off by a shorter term tumble.

The slide in Perth house prices is continuing but showing signs of finally coming to an end as concerns grow the Sydney market has stalled. Figures from CoreLogic, released this morning, shows values of Perth houses fell by 0.1 per cent through September.

Sydney’s property market grew in the 10 days after the federal election, signalling a possible turnaround in an 18-month property slump.