Study the market for best price places to buy in 2017: Selling Houses Australia's Andrew Winter

Study the market for best price places to buy in 2017: Selling Houses Australia's Andrew Winter
Study the market for best price places to buy in 2017: Selling Houses Australia's Andrew Winter

The best decision to be made about buying during 2017 will be preceded by a close study of the performance of the local market chosen to buy or invest in, according to real estate television presenter Andrew Winter.

His forecast on capital cities stresses one element that he was absolutely sure about - our love affair of real estate, love it or hate it will not change.

He warned News Ltd readers they will have success buying and selling only by "knowing all the sales in the previous six months, every listing for sale right now, what is in demand, what is not so much and for all stock both established, new, and even land.

"Know the areas facts from schooling, to crime rates to employment to infrastructure changes etc. that’s why it is impossible to cover a wide area and still truly be informed sufficiently to make the right move," he said.

Looking at the capitals, here’s what he thinks:

SYDNEY: Limited stock to fuel growth

"Sydney, I genuinely believe some growth may still continue, fuelled by limited stock in prime areas, outer areas may see growth too as buyers are forced outwards for value," he said.

"The only areas that may see more flatlining will be the locations with an increasing housing stock such as those with considerable new land releases.

"However, prices may not falter even there if that stock is perceived as affordable relative to the market. Even the inner city new unit market may hang in there, noting this is often a market within a market, so play with this housing stock very carefully."

MELBOURNE: Oversupply a concern

"Melbourne has performed outstandingly but more recently in some areas, such as prime suburbs, stock levels have increased slightly which tends to put a halt to big value hikes," he said.

"Outer areas, many of which are quite accessible to the CBD and big employment centres are and should continue to see moderate growth, affordable and attractive to owner occupiers and investors, local and interstate alike.

"This city’s big issue is an oversupply of central new unit schemes, usually high rise. If supply continues at this rate ahead of demand, or in fact more units get sold and stand empty or add to an over supplied rental stock this does not bode well for this market sector."

Study the market for best price places to buy in 2017: Selling Houses Australia's Andrew Winter

PERTH and DARWIN: Good time to buy?

"Perth and Darwin have struggled somewhat during 2016, however, you could argue that the softening of those markets was a natural pattern in the property cycle after many good years," he said.

"When larger sources of employment and investment such as the resources industries struggle it is of course going to impact a local housing market.

"These two cities are critically important geographic centres, so while values may be suffering a little 2017 may just see more of the same, but it can be argued the bad times are exactly when you buy, not when you sell."

CANBERRA: Steady and modest

"As for our nation’s capital, a city that has seen very modest growth in 2016, this is a steady market anyway and I don’t believe that will change in 2017," he said.

ADELAIDE: Employment issue might affect market

"Adelaide tends to be a fairly sensible player in the market, more steady than boom and bust. Major employment concerns will continue to impact this market," he said.

"This is an affordable city so you only need some good news on infrastructure and employment and demand will increase, so it could be one to watch."

BRISBANE: Room for growth

"Brisbane and southeast Queensland generally has seen a recovery in the last few years but that market adjustment and value rises are still relatively low taken over a decade so again this is an area I believe to watch," he said.

"There is room for growth in many areas, only prime inner city suburbs have seen the larger value rises recently. For interstate and local buyers there really is well located and quite affordable housing stock."

HOBART: Tricky to predict

"Hobart, very tricky to predict. While many areas of the state are struggling, the city and close by offer a certain lifestyle attractive to many and with very affordable price tags. I believe no noticeable change for 2017 will be evident," he said.

Winter purposely omits all median prices, generic stats etc. because in his words, “I predict for 2017 the best decision will be made about buying and selling when you study the performance of the market local to you or the areas you’ve chosen to buy or invest in."

"The median prices/recent sales performance and demand can and does vary massively, not only from suburb to suburb, but literally between street to street," he concludes.

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Property market Andrew Winter

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