Call me 'Nostradamus'... But, i got it right!... I was the only 'Property Expert' to correctly predict the 'Adjustment to the Property market' in 2017. It was at the beginning of 2017 on ‘The Today Show’ on Channel Nine, when I was interviewed by presenter Sylvia Jeffreys about my predictions on the ‘Property Market’ and what would happen in 2017?... And i was 100% correct!
It was controversial!... Due to the fact that many leading people in the ‘Property industry and Media’ did not agree with my comments at the time?...
It’s very easy and clear to see as of today, my comments and prediction were 100% correct!...
The Sydney Auction clearance rate at the end of 2017 as of last big Auction weekend on the Saturday 9th December 2017 was only 58% a 'Two year auction clearance rate low'.
The same time the year before the Sydney Auction clearance rate was 73%, a 15% higher clearance rate than today's market.
The property market in Sydney in 2018 has now officially ‘Adjusted’ and the 'Boom' is officially Over!... And as I indicated professionally that it would happen in 2017, and now in 2018 will experience a decline in property growth and home prices.
So now we have more 'Controversy' from my interview with Sylvia Jeffreys on Australia's leading breakfast program on the Nine Network 'The Today Show' about my 'Property Market' prediction for 2018!...
I indicated that the property market will continue to slow down and adjust this year.
Not a 'Crash'... but an adjustment in the second half of this year.
I stand by my professional opinion and comments that, if you are a 'seller' in the property market in 2018? Look to sell in the first half of this year, and if you were a buyer, the better buying opportunities will present themselves in the second half of this year.
The main 'reason' is that we will see an oversupply of new apartments coming on to the market for sale and many apartments are in the so called 'risky suburbs'... Especially the outer Sydney suburbs that are 20 plus kms away from the CBD with many suburbs having a more restrictive finance and lending criteria for purchasers.
We will also see in Australia, what I call the 'International disruption'... As our property markets will react to what will be a very disruptive 'global economy' with China's economy slowing and investment in purchasing apartments off the plan in Australia rapidly declining, the leadership in the USA creating global and financial volatility in many markets.
Please click on the 2 links below and watch 'The Today Show' 2018 interview and read the property boom is over news story and let us know your thoughts & opinions.