John McGrath tips 6 percent price growth for Sydney house prices

John McGrath tips 6 percent price growth for Sydney house prices
John McGrath tips 6 percent price growth for Sydney house prices

Estate agent John McGrath said there were signs listings were returning to more normalised levels heading into the busy spring period.

He said it should "take the sting" out of a rampant housing market in Sydney.

"I forecast 6-8 per cent growth in Sydney house prices this year. We've seen the majority of that already so I see very little increase in prices going forward," he told Fairfax Media

"I think there will be more significant growth in prices in the big regional locations like the Central Coast, Wollongong and Newcastle."

 John McGrath estimated Chinese buyers numbers were down by half compared with a year ago, which he said was "disappointing, but not surprising". 

But he said there had been an increase in buyers from other parts of Asia including Vietnam, Indonesia and India.

Estate agent John McGrath announced yesterday he is stepping away from the daily operations of the recently listed McGrath group.

 

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Tags: 
Sydney Housing Market

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