Property news 28th Jan 20; Sydney jumps, brokers inundated, Gold Coast interest and more

Whilst the real estate industry might still be in New Year quiet mode, all indications are that there is a big year for property in 2020 – a welcome change from the doom and gloom of the last 3 years. Here’s what’s happening:

In Sydney, house prices have jumped by $300,000 in suburbs leading the property rebound

A strong end to last year saw Sydney record its first annual price growth since the market boom ended in 2017. Sydney house prices increased 6.8 per cent in a year to a median of $1,142,212, while unit prices jumped 3 per cent to a median of $735,387.

“Prices are still not where they were in 2017, but it’s been an incredible rebound and all indicators point to them reaching those peak levels this year,” Domain economist Trent Wiltshire said.

Meanwhile, mortgage brokers are inundated with home loan applications as homebuyers prepare to purchase, spurred on by the new home buyer scheme.

This is despite a clear increase in prices:

More gain, less pain for Australian property market as more properties sell for a profit

Gold Coast property is seeing its ‘strongest level of interest in 47 years’, with Australia’s biggest auction event ever.

If you’re looking for ways to maximise your home sale even more – it pays to have a high energy rating.

Homes with higher energy ratings sell for more. Here's how Australian owners could cash in

In other property news:

Why real estate investors should consider multiplying their assets

Russell Crowe tweets photos showing how rain has helped his Australia property heal from fires

Housing market tipped for busy start as property stylists see increase in bookings