Earlier this year I was interviewed on ‘Studio Ten’ on Network Ten by the talented team of presenters including Joe Hildebrand, Natarsha Belling, Ita Buttrose, and Jo Casamento about my predictions on the ‘Property Market’ and what would happen in 2018?.
It was controversial!... Due to my comments to ‘Call the markets, as I see it happening’ and the fact that many leading people in the ‘Property industry and media’ publicly did not agree with me?
It’s very easy and clear to see as of today, that my Market comments and Property prediction were 100% correct!...
The Sydney Auction clearance rate as of last weekend the Saturday 15th December 2018 was only 41% the lowest auction clearance rate since the ‘boom and bust’ market in 1989 which saw the auction clearance rates in the early 30% range.
Interesting to see that the same time last year the Sydney Auction clearance rate was at an average 60% in 2017 which was 20% higher than today's auction market clearance rates in 2018.
My official ‘Media Press Release’ as June 2018 this year was written as follows:
‘The property market in Sydney has now officially ‘Adjusted’ and the Boom is Over!... And as I indicated that the Property Market would correct in 2018 and will experience a decline in property growth and prices.
I stand by my professional opinion and comments that, if you are a 'seller' in the market? Look to sell in the first half of 2018, and if you were a buyer, the better buying opportunities will present themselves in the second half of the year.
The main 'reason' is that we will see an oversupply of new apartments coming on to the market and many are in the so called 'risky suburbs'...
that is that the suburbs with more restrictive finance and lending criteria for purchasers.
Please click on the link below and watch ‘The Property Expert’ exclusive Interview on 'Studio Ten’ about the Property Market Prediction and let us know your thoughts and opinions.