Brickworks' Lindsay Partridge thinks that Sydney’s property boom may have already run its course, with very little room for an upside... More investors expected to enter Perth market...
Sydney’s property market may have peaked
Brickworks managing director Lindsay Partridge thinks that Sydney’s property boom may have already run its course, with very little room for an upside.
But in spite of this, Australia’s largest brick supplier believes that this would not produce any major declines for Sydney property prices, thereby dismissing rumours of an upcoming housing market crash.
“I don’t think there’s any risk of a fall,” Partridge said in an interview with the Australian Financial Review. “The banks will tell you that most punters are 18 months or two years ahead in their payments. People will just hang and wait for the next cycle.”
But if there was one thing to blame for the risks that the property market is facing, it would have to be the tighter lending rules for foreign property buyers.
“They may have overstepped the mark there,” said Partridge.
More investors expected to enter Perth market
Investors are seeking to take advantage of the Perth market’s attractive yields as Chinese investors are predicted to make a more prominent role during the city’s post-mining boom era.
Savills State Director of Retail Investments/Services Chris Ireland believes that the Perth market’s improved investment fundamentals will drive renewed interest in Western Australia’s real estate industry.
“As demand for property in the east coast markets drives increasingly low yields and correspondingly high prices, investors will turn to WA, and those who do so first are those who stand to profit most,” said Ireland.
He further argued that investing in the WA real estate market should be considered a long term game.
“Retail, and especially neighbourhood centre retail, is regarded as a defensive investment, the sort of investment that continues to deliver in a downturn and that has been important in the upward sales trend we have seen over the last 12 months,” Ireland added.
(YIP)
Brickworks managing director Lindsay Partridge thinks that Sydney’s property boom may have already run its course, with very little room for an upside.
But in spite of this, Australia’s largest brick supplier believes that this would not produce any major declines for Sydney property prices, thereby dismissing rumours of an upcoming housing market crash.
“I don’t think there’s any risk of a fall,” Partridge said in an interview with the Australian Financial Review. “The banks will tell you that most punters are 18 months or two years ahead in their payments. People will just hang and wait for the next cycle.”
But if there was one thing to blame for the risks that the property market is facing, it would have to be the tighter lending rules for foreign property buyers.
“They may have overstepped the mark there,” said Partridge.
More investors expected to enter Perth market
Investors are seeking to take advantage of the Perth market’s attractive yields as Chinese investors are predicted to make a more prominent role during the city’s post-mining boom era.
Savills State Director of Retail Investments/Services Chris Ireland believes that the Perth market’s improved investment fundamentals will drive renewed interest in Western Australia’s real estate industry.
“As demand for property in the east coast markets drives increasingly low yields and correspondingly high prices, investors will turn to WA, and those who do so first are those who stand to profit most,” said Ireland.
He further argued that investing in the WA real estate market should be considered a long term game.
“Retail, and especially neighbourhood centre retail, is regarded as a defensive investment, the sort of investment that continues to deliver in a downturn and that has been important in the upward sales trend we have seen over the last 12 months,” Ireland added.
(YIP)
