Sydney values 'likely to hold up in 2024': REINSW
It might take 10 years for the median household to save up a 20 per cent deposit on the median-priced Sydney home but the REINSW still expects a resilient market to hold its ground, or more, in 2024.
Renters and first home buyers in Sydney face a tough task made worse by Real Estate Institute of New South Wales (REINSW) expectations that property or rental price falls are a remote prospect. (Image source: Shutterstock.com)
Amidst 13 interest rate rises in nearly as many months, the resilience of residential property as an investment has been reinforced in 2023.
Prices have continued rising despite the increased cost of borrowing and repayments.
Even though the Reserve Bank gave mortgage holders a reprieve
at its December meeting, the desperate shortage of property in New South Wales means that even if there’s another rise or rises in 2024, values are likely to ho…
