Lower value house sales are reported weaker in Sydney following the withdrawal of stamp duty concessions for first home buyers.
In an article in todays AFR it was reported that, in the first home buyer market, prices went up in 2011 as first home buyers rushed to get the benefit of the existing stamp duty concessions, but in a claw-back, activity and prices in that same sector are looking weaker since January 1. Some forecasters are expecting prices to fall back to where they were in early 2011.
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About propellresearch
Economist, fund manager, property market analyst, I study the economic outlook, and the commercial and residential property markets in Australia. In my career I've managed national property research departments for Knight Frank, Citigroup and others, and been a property fund manager, and have operated in every commercial and industrial market in Australia, and many in Asia, which enables me to provide informed comment for our Propell valuation clients, aided by our great team of valuers in every market from Darwin to Hobart.
