Latest News: Confidence returns to Lower North Shore property market after Coalition victory.
Sydney’s lower north shore property market is set to bounce back in spectacular fashion, thanks to the Coalition’s surprise federal election win.
This vote of confidence comes from Di Jones - Lower North Shore owner and Principal, Piers van Hamburg.
“Real estate markets normally slow in the months leading up to a Federal election,” Mr. van Hamburg said today.
“But this year, property activity hit a wall, reflecting the significant changes proposed by the Labor Party to both capital gains tax and negatively geared property.
“Adding to the dour mood, self-funded retirees also experienced real concerns about the impact of suggested changes to superannuation and what it meant for their standard of living.
“All of these factors have led to the lowest level of activity I have seen during 22 years in the industry.”
Mr. van Hamburg believes the election victory will signal the return of buyers and sellers, who are now armed with confidence when it comes to the housing market.
“I’m predicting a strong kick start to the Lower North Shore property market,” he said.
“Combined with stability returning to the pricing environment as well as the prospect of another cut to the official cash rate, Di Jones Lower North Shore expects transactions to increase sharply from their current levels.”
Mr van Hamburg adds that property market trepidation, a feature in the first half of 2019, means buyers and sellers are now ready to put their property plans to work.
“It’s a perfect time for people to engage with the market,” he says.
“I believe we are about to hit a position where there’s plenty of high-quality inventory back on the market, to satisfy the pent-up demand.”
Having worked through good and bad markets, Mr. van Hamburg says he feels fortunate to be working in such a stable resilient marketplace.
“Demand for quality property on the Lower North Shore is always strong and here we have a market that has successfully navigated many economic cycles,” he says.
“Indeed, the area consistently ranks as one of the strongest in the country.”
A highly experienced and trusted veteran of the real estate industry for more than two decades, Piers van Hamburg has both the experience and dedication to help people realise their property dreams.