{"id":4791,"date":"2015-06-11T10:08:54","date_gmt":"2015-06-11T00:08:54","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=4791"},"modified":"2015-06-11T10:08:54","modified_gmt":"2015-06-11T00:08:54","slug":"a-slight-drop-in-sydneys-property-market-but-no-cause-for-panic-john-mcgrath","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/a-slight-drop-in-sydneys-property-market-but-no-cause-for-panic-john-mcgrath\/","title":{"rendered":"A slight drop in Sydney's property market, but no cause for panic – John McGrath"},"content":{"rendered":"

In his recent column in\u00a0Switzer<\/a>, John McGrath discusses the current state of\u00a0Sydney property market<\/a>\u00a0in light of a slight fall in property values.<\/p>\n

Here\u2019s what he had to say:<\/h4>\n

Sydney property values fell by 0.7% in the month of May; and the city was among six out of eight capitals to record a decline, according to the latest report from CoreLogic RP Data.
\nIt\u2019s the first monthly drop in a year for Sydney but it is absolutely no cause for alarm at all.
\nIn fact, it is welcomed.
\n\"John
\nAfter three years of growth, the market has got to take a breather at some point.<\/strong>
\nIt can\u2019t keep going up forever and I believe this is a healthy sign.
\nIn order to consolidate the fantastic growth we have seen in Sydney property values, the market needs to settle down.
\nWe need people to get used to these higher prices and accept them as new benchmarks for the areas where they want to live.
\nThat requires time and stabilisation.
\nI wouldn\u2019t be unhappy if this was the first sign of the Sydney market easing a bit, but I really don\u2019t think we\u2019re there yet.<\/strong>
\nEven the analysts at CoreLogic RP Data are saying this small drop in value is probably just a blip.
\nSydney is experiencing record high clearance rates, record high investor activity and a significant reduction in supply versus demand this year.
\nAdd to that record low interest rates and it\u2019s hard to see the market truly cooling any time soon.
\nHere\u2019s what Tim Lawless, the Head of Research at CoreLogic RP Data, says about this month\u2019s official figures:<\/strong><\/p>\n

\u201cThe weaker reading across the May results is likely to be short-lived, with the Index expected to show better growth next month.
\n\u201cOther market indicators are also pointing to stronger conditions for the Sydney and Melbourne housing markets with auction clearance rates remaining at or close-to record highs throughout May along with low advertised stock levels across the largest cities, particularly for Sydney.
\n\u201cThe negative May result is likely due to a natural correction from the previously strong month-on-month results.
\nAdded to this is the market stimulus due to lower interest rates, and a well-received federal budget in May \u2013 all of which are likely to keep momentum going in the market.\u201d<\/p><\/blockquote>\n

Maybe towards the end of the year, after what will probably be a strong Spring season, things will start to change and Sydney will drift into a period of stability, with more instances of small increases and small decreases month-to-month.
\nI agree with RP Data\u2019s assessment that restrictions on investment lending being introduced by the banks, coupled with general affordability constraints and new supply in the Sydney apartment market, will eventually have a tempering effect on the market as a whole, we just have to wait and see as to when this will be felt and how big an impact it will have.
\nIf you\u2019re looking to buy in Sydney with a view to holding long term (as you always should), the worst thing you could do right now is delay it.
\nDon\u2019t take this month\u2019s data as a sign that everything is about to collapse.
\nAnd don\u2019t take it as a reason to procrastinate either!
\nIgnore the headlines and stay on track with your personal investment goals.<\/strong>
\nWith a long term view, you will definitely see an upside.<\/p>\n","protected":false},"excerpt":{"rendered":"

In his recent column in\u00a0Switzer, John McGrath discusses the current state of\u00a0Sydney property market\u00a0in light of a slight fall in property values. Here\u2019s what he had to say: Sydney property values fell by 0.7% in the month of May; and the city was among six…<\/p>\n","protected":false},"author":176692471,"featured_media":2523,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13],"tags":[],"class_list":["post-4791","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-story"],"yoast_head":"\nA slight drop in Sydney's property market, but no cause for panic - John McGrath - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/a-slight-drop-in-sydneys-property-market-but-no-cause-for-panic-john-mcgrath\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A slight drop in Sydney's property market, but no cause for panic - John McGrath - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"In his recent column in\u00a0Switzer, John McGrath discusses the current state of\u00a0Sydney property market\u00a0in light of a slight fall in property values. 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