Uconvey

Sydney’s changing market requires new approach to sales, agents say but for those with a detached home in the inner ring suburbs the market is still very strong. Detached house sellers in Kogarah, Rockdale, Bondi Junction, Neutral Bay, Enmore, Stanmore as well as many other inner ring suburbs including those in the Inner West Council area are still in a strong position, typically selling at or above the prices they first listed at, the data showed.
See link below for more information on the changing market conditions:
https://www.realestate.com.au/…/sydneys -changing-market-re…/

In October last year we posted a story about the risks associated with the cladding being used, especially on newer apartment blocks. Very little was being done about this ticking time bomb at that stage. Legislation is now being considered by the NSW government to tackle this huge issue. Under proposed changes external wall cladding is to be identified as a major defect on apartments. If passed, the changes will have a significant impact on the value of those apartments with... the cladding when it comes time to sell. Apartment owners should ensure their buildings with cladding are rectified as soon as possible. If you are considering purchasing an apartment please contact us and we can make appropriate enquiries to protect your interests. Below is a very timely story about the effect the cladding issue has had on London property values: http://www.news.com.au/…/n…/64eafd3d3 b90e2fd3e5b1ce737c09575
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The market has slowed and purchasers now have their best opportunity in years to find a property at a realistic price. Still, some vendors have failed to recognise this shift and realign their expectations to the current market conditions. uConvey is a boutique firm based in Sydney's Inner West. We can provide expert assistance if you are looking to purchase. See link below for more on the changing market:
http://www.afr.com/…/sydney-vendors-fai l-to-recognise-prope…

If you are thinking of buying off the plan this story is for you. You may wish to negotiate on price in this softening market. For anyone looking to purchase off the plan uConvey has the skills to help you with contract review and negotiations before you commit.
http://www.abc.net.au/…/property-invest ment-spruik…/9380602…

Having cautioned in previous posts about purchasing off the plan here is a telling story if you are still considering one. With a great deal of experience in off the plan property purchases we can assist you to obtain the best possible outcome if you wish to go with that option. See link below: http://www.news.com.au/…/n…/e7f13b3ed 3c2b908eae2de7e672361aa

This supports my recent posts suggesting serious caution is needed before purchasing an apartment in the current market, especially off the plan and especially if investing.

Great tips for achieving best price at auction, no matter what the market conditions are.
http://www.news.com.au/…/how-to-make-th e-most-money-selling… auction/news-story/a1a6bf6700b32cab882ed1 f0c24a555c

Weekend auction results confirm the market in Sydney especially has shifted in favour of purchasers. Vendors are having to realign price expectations with the current market.
https://www.realestate.com.au/…/auction s-are-shifting-buye…/

We've heard surprisingly little about flammable cladding on new apartment complexes in Sydney so far. This article is centred around a Melbourne developer but I'm quite sure we have dozens of apartment blocks in Sydney similarly affected. Lets hope they are being identified and fixed quickly.
http://www.smh.com.au/…/builder-lu-simo n-blocks-fix-for-pot…

Bankstown more expensive than Sydney's inner west 40 years ago? Hard to believe but its true! This is a great read and takes you for a trip down memory lane at the same time.
https://www.domain.com.au/…/what-sydney -prices-looked-like…/

Solo buyers are finding it incredibly tough to enter the Sydney property market for the first time. http://www.news.com.au/…/n…/7d302076b 6391dd107f92eaf6a96f8e8

Sydney house prices were marginally lower in September. It's only 0.1% but it shows Purchasers can now afford to be more cautious. See story below for more detail: https://www.realestate.com.au/…/sydney- property-prices-got…/

Sydney auction market has bounced back with high clearance rates The number of properties reported sold prior to auction in Sydney generally soared over the weekend, increasing by 33 per cent to 145 compared to the previous weekend’s 109. Sellers were clearly keen to secure a sale from a diminishing number of buyers. The inner west market however appears to have lost much of the sense of urgency seen in previous years with lower auction clearance rates.
https://www.domain.com.au/…/sydney-auct ion-market-bounce…/to secure a sale from a diminishing number of buyers.

The push to preserve Marrickville industrial precinct which fosters quirky creative industries. Proposed rezoning of Carrington Road for medium and high rise developments by the NSW government threatens the very fabric of this area.
https://www.domain.com.au/…/push-to-pre serve-marrickville-…/

Vendors have flooded the Sydney market with property. CoreLogic reports a 16 per cent jump in the number of homes for sale compared to this time last year — an unusual bounce for so early in spring. This is despite little or no growth in average property price in recent months. See link below for more: http://www.news.com.au/…/n…/f8122ae59 bb2e77aa94919def53b15e9

As suggested in an earlier post the market is beginning to level out and as a result investors are leaving the market in the short term. This means NSW’s construction boom will begin to slow as developers hold off new apartment projects over concerns falling investor demand has made off the plan units harder to sell. Chinese developers face tighter restrictions from their own government as well. https://www.realestate.com.au/…/sydney- unit-approvals-decl…/

The Central Coast has experienced strong growth in the last year and offers so much for young families at still affordable prices. https://www.realestate.com.au/…/hot-pro perty-woongarrah-ho…/

New data paints a different picture of where our 25- to 34-year-olds are living in a sign of changing times.
https://www.domain.com.au/…/times-have- changed-the-surpris…/

What now for Sydney property prices? Five economists give their predictions.... You do have to wonder. I would expect the market to flatten out for a while with very little growth in the main. If prices contract at all I expect it will for units.
https://www.domain.com.au/…/what-now-fo r-sydney-property-p…/