All markets, industries and businesses seem to be bouncing up and down – just like the stock market.
Does one jump in or does one sit on the sidelines? It’s anyone’s guess. Have we entered the era of the expert, or are we still in the past decade of the so-called experts?
Has perception given way to reality or does owning a financed house, boat and 2 cars still the be-all and end-all in Sydney?
I’ve been speaking with some commercial real estate agents and it’s very interesting to see that North Sydney commercial space is almost full.
Chatswood is almost full, Parramatta is almost full and the City is doing very well. These markets copped a pounding over the last five to seven years and, like everything, have gone through the next cycle. We have leased quite a number of shops in the last month at great returns. Another interesting stage in the cycle, especially with all the bad news about retail.
House auctions have just touched above the 40% to 60% clearance rate that we’ve seen year after year. I think Asian buyers will start strongly entering the market again, with the dollar now down around par with the U.S. As the old saying goes “one door closes and another door opens”.
Our property management department have arranged their first Investor Night focusing on what to do with your super and ways to get the best out of your residential property investment, and I’ll be telling you more about that in the future.
Our property management team is also growing dramatically with the appointment of another highly experienced portfolio property manager, and I’ll be telling you more about her in the future as well.
The Forsyth Team, and sales and leasing turnover, have grown by 17% in the last two years and are looking forward to continued growth over the next year or two.
Thank you all for your support, your feedback and business.
All the best.