Editor's Note: May 2014
It’s hot out there
In the most populous city of Australia, the average open home is attracting up to 100 people, 30 contracts and 15 bidders, according to one buyers’ agent on the ground. Yes, the Sydney property market is booming!
Sellers – not to mention their agents – are rubbing their hands with glee, while buyers are stretching their budgets to their limits and first homebuyers are struggling to catch a break.
Depending on which side of the property transaction you’re on, it’s the best of times or the
worst of times!
With the phenomenal and fast-paced recovery of the New South Wales capital, it’s perhaps not surprising that most of the best-performing suburbs identified in the Residex/onthehouse.com.au report on page 40 are located in Sydney.
If you believe in the ripple effect, which is when boom suburbs send ripples out to neighbouring areas, then this fascinating piece of research could prove a profitable guide for your next acquisition.
After so many years in the doldrums, it’s astounding to think that you could have made an easy six-figure gain in the space of just one year if you’d timed your entry into the Sydney market right. No doubt, many buyers are kicking themselves now for having waited.
It just goes to show what’s possible when all of the property stars align.
In Sydney and many other markets nationwide, affordability remains a big issue.
To that end, API highlights five ways parents can help their children make their entry into the property market on page 66.
My last editor’s note
This month marks my 100th and final issue as the editor of Australian Property Investor magazine.
After nine fabulous years, I have decided to pursue a new adventure as a business owner.
I will continue to write for the magazine from time to time, so it’s
I will be leaving API in good hands, with Nicola McDougall taking over from next month. Thank you to everyone I’ve had the privilege of working with over the years: contributing writers, industry experts, featured investors, the wonderful team at API and you, our readers. It has been a pleasure and an honour to share this journey with you.
Remember, you can always email API with your suggestions or comments at email@example.com
Also, don’t forget to check out the second issue of our sister publication Profitable Small Developments, on sale now at www.psdmagazine.com.au