A buyer’s agent perspective on the ups and downs of Sydney’s property market

This is because there are more buyers out there looking to acquire new investments, according to Ms Yoshia, making it “a great time” for buyers at present given the fact that “the market has pulled back.”

She continued: “Also, I guess, even though we’re looming close to the elections, people are seeing that the marketplace is not falling apart and, therefore, are taking advantage of wanting to buy prior to the election, particularly with the uncertainty of negative gearing.”

According to Ms Yoshia, there is a property market buzz occurring at present, as investors were previously “sitting on the fence, [and] particularly sellers as well,” they are now “taking the opportunity to... dip in the water and see whether they’ll get a buyer for their home or not.”

“Surprisingly, there’s quite a lot of buyers out there at the moment,” she added.

Further, Ms Yoshia said that she is currently working with a combination of both owner-occupiers and property investors in equal amounts, stating that “it goes in cycles”.

“Sometimes we’re working more with the portfolios. Other times we’re working more with clients upsizing,” Ms Yoshia added.

Conservative spending among investors?

Despite the property “buzz” that is resounding within some Australian markets at the moment, including markets that have seen significant downturn in the last 18 months – particularly Sydney and Melbourne – Ms Yoshia argued that investors are still “quite conservative” with their money.

However, according to the Sydney-based buyer’s agent, there is a silver lining on the horizon.

She continued: “Given the fact that there are some good opportunities out there, particularly off market properties... people that can still invest from an investment perspective are looking to either start [their] property portfolio or continue to build their portfolio.”

Markets surrounding Sydney’s CBD

Ms Yoshia works specifically in Sydney’s property markets within the Eastern Suburbs and Northern Beaches and offered some insights into how those markets are performing, agreeing that they are indeed buyer’s markets at present.

“I do agree to that. However, as always, it comes down to location, location,” Ms Yoshia said.

She continued: “There’s certain parts of the Eastern Suburbs that are still very high. There are other parts of the Eastern Suburbs where it has pulled back, I would say, especially where there’s apartments.”

According to the buyer’s agent, there are an abundance of two-bedroom apartments available in those markets at present, whereas “18 months ago people were paying a premium for those two-bedroom apartments”.

“So, although they’re not a bargain price, they’re a little bit more easier to negotiate on.”

Meanwhile, Ms Yoshia said that there are certain parts of the lower north shore that are still “very high in value”, whereas the upper north shore has “pulled back quite substantially”.

She continued: “However, still good prices [are] being achieved there. So, it just depends on the location and the type of property that is being offered.”

Light rail regions

According to Ms Yoshia, the Chatswood and Crows Nest regions in particular are becoming more desirable in Sydney’s current property market climate.

“Crows Nest has always been a popular area. However, it’s even more popular now, based on the light rail,” she said.

“I would say that there have been a lot more in terms of high-rise apartments that are being built and that have been built. The attraction has been the light rail, so it’s been a positive thing for property.”