The sense of our passion
Wednesday 29 Apr 2015
It’s like every possible indicator is pointing to why the market should not be holding, let alone at such strong levels. But what is becoming ever more obvious is the fact that no statistic can measure our national passion for property.
Sure the quarter acre block with the hills hoist out the back might have morphed a little but our faith in bricks and mortar as the preferred option to invest appears unshakeable.
It doesn’t mean the market is immune to bubbles or busts but it does mean most covet their own piece of property no matter the market.
I do get the concern about the level of debt homeowners face to secure a Sydney property, but at the same time I don’t underestimate the level of consideration given before committing to a mortgage.
Our team at Morton focus predominantly on the CBD and city fringe market. We list properties from $500,000 to upwards of $5 million. We have just closed the books on our biggest quarter EVER.
But I can almost guarantee that not one of our buyers, for the studio apartment through to the multi-million dollar harbourside penthouse, proceeded with their purchase without doing the numbers and looking to the future value of their financial investment.
It just isn’t that crazy out there. I think that’s why it is so astounding. As I’ve been saying all year, the market it strong but it remains sensible.
Now that should be the headline.