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Property market update: Sydney, January 2021
By Zarah Mae Torrazo
16 February 2021
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There are now indicators suggesting that the rebound of Sydney’s property market is underway.
At the end of 2020, the NSW capital showed signs of recovery from a slump caused by restrictions and lockdowns put in place to combat COVID 19.
And it’s showing no signs of slowing down again anytime soon, having kicked off the new year with continued growth.
As such, experts are optimistic that Sydney’s property market will keep getting stronger in 2021, despite the battering of the COVID-19 pandemic. Solid job creation, rising consumer confidence and improving business confidence are growth factors seen to underpin the NSW capital’s property market in the coming months.
Northern Beaches emerges as Sydney’s 2021 hotspot
By Bianca Dabu
14 January 2021
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1 minute read
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With Sydney set to be a seller’s market in 2021, where will buyers flock as they adjust to the new normal?
Buyer’s agent Grant Foley expects dwelling prices in the Greater Sydney market to increase by six to 10 per cent this year as the city recovers from the headwinds brought about by COVID-19 in 2020.
Record-low interest rates, along with tight supply, will continue to underpin activity as well as price growth, he said.
“Interest rates will continue to fuel demand from owner-occupiers, including first home buyers, while investor activity will lift significantly. Additional demand for Sydney property will also be driven by returning expats.