Welcome to the EOFY edition of True News
Heading to the finishline of FY24, Sydney’s property market continues to see steady growth, both in the rental and sales worlds. While property prices have still not yet returned to their previous peak from January 2022, Sydney’s median house price has grown at a steady 7.4% over the past year, rising 0.6% in May alone.
However, as Sydney dwelling prices are only 1.4% lower than the previous January 2022 peak, we do foresee that a new high will be seen in the near future.
In the rental world, we have seen a changing dynamic amongst renters in recent months. As it has been well known in recent times, Sydney’s vacancy rates have fallen below the long-term average, proving difficult conditions for renters across the city. However, we have recently noticed a slowdown in tenancy enquiry – likely as a result of an inflated rental market.
Whilst tenancy enquiry has slowed down, this change is not material and landlords are still experiencing record returns on their investment property portfolio.
EOFY is an opportunity for you to get on top of your investment portfolio. We have procured a collection of resources you will see below that gives you some ideas to consider during EOFY. If you have any questions or queries, please reach out to me personally using the details below.
Be well.
Michael’s Market Update
True Insights
Making the most out of EOFY
It’s EOFY time. So we’ve procured a collection of resources to help you make the most out of this period.
Making the most out of EOFY
Get to know our Business Development and Senior Property Manager, Taylor Merillo.
Client Feedback
