Long growth period ahead for Sydney property
By
Tim Neary
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4/03/2010 12:00:00 AM
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Sydney house prices will rise by as much as 10% this year according to leading real estate agent John McGrath.
The chief executive of McGrath Estate Agents said in his autumn market review that the first two quarters of 2010 would be the "launch pad" of a long period of sustained growth in Sydney property prices.
This would be driven by high demand and low supply - particularly from upgraders and investors.
He said we had already witnessed a sneak preview in the last quarter of 2009.
"Properties between $250,000 and $1.5million all seemed to be enjoying a price surge due to increased buyer activity, notably at the lower end before the First Home Owners Boost disappeared," he added.
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