Demand for properties in Sydney

We are nearing spring and the number of properties that are being listed is lower than normal.  I am referring to the inner suburbs of Sydney where, it seems people had factored in the interest rate hikes.  You would expect the interest rate increase would have impacted on the property market in a negative way.  It has not had a chance.

We have  a few factors at play -

The demand is increasing because of:

• Population Growth
• people being more lifestyle driven and wanting to be closer to amenities, cafes etc.

The supply of homes is decreasing because:

• People are nervous they will not be able to buy again as there are few homes on the market.
• People are in a wait and see pattern.

To buy a property now, you need to know how to source the property and how and when to negotiate the price - otherwise you could be looking for a long time.