Sydney Market Reaches its Peak
by John Edwards
Founder of Residex Pty Ltd and Consultant to Onthehouse.com.au.
We waited with anxious anticipation for consumer sentiment to improve last year as housing markets should have been performing well in early 2013, but this was not the case. Interest rates were low, which has historically caused property growth spurts. Gradually, sentiment improved and property markets started to show strong growth moving into the last quarter of 2013.
However, recent data indicates that Sydney, the lead indicator market, is starting to look soft and as though it has peaked (see Graph 1).