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The median house price for Sydney at the close of 2021 is $1.5 million. That’s a rise of 23% and leading the nation in home value growth. The Domain September Quarter report showed that in the last 12 months Sydney’s property prices added $6,700 per week or $957 per day to the price. And a whopping $349,000 was added to the Harbour Cities median price tag - the biggest rise at 30.4%. Our Sydney Removalist team was kept busy all year even through the lockdown. And we expect the same for 2022 even with the uncertainty at the moment with Omicron, Australia is expected to remain open for international travellers meaning even more buyers flooding into the market.
International buyers combined with low-interest rates means the real estate experts are tipping Sydney's median house price to grow by $102,000 in 2022. Economists tip rates will not rise until at least late 2022 or not until the economy is getting back on track by showing wages growth of 3% or more. So 2022 will continue to see strong home price growth and our moving team is gearing up for a busy 2022!
This means rising interest rates are unlikely in 2022 and property price growth will remain strong. Sydney house values are likely going to climb making housing affordability ever higher it seems.
So if you’re thinking of moving in 2022 then book a removalist as soon as you have your settlement date. Sydney removalists are a hot commodity but you want experienced and reputable movers - That’s us at Men That Move. With an average of 5-star reviews from our clients, we get a huge amount of bookings from word of mouth of referrals and returning clients.
It seems a given to be concerned over the latest Covid variant and what impact it may have on Australia's red hot property market. What experts do say is throughout the last 2 years FOMO had a bigger impact than Covid. Buyers do not want to miss out on taking advantage of historically low-interest rates and sellers taking advantage of high prices, especially downsizers.
So even if we see some restrictions like mask-wearing and density limits return it's highly doubtful, experts say, to impact the property market. So 2022 will likely be another boom year. Pete Wargent, a co-founder of BuyersBuyers, said the Omicron strain of the coronavirus will have a negligible impact on the trajectory of the housing market.
"To a certain extent, the last couple of years should have reminded us that making predictions is very hard, especially when they are about pandemics or the future. But, that said, there's little to indicate that the latest strain of the virus will have any meaningful impact on housing market trends," Mr Wargent predicted.
"After an initial wobble, stock markets have been resurgent, and financial markets have been largely unperturbed, which is likely to be a better indicator than the latest alarmist headline."
Of course, nobody has a crystal ball so a definite answer can never be given. But we can say for sure that if you are selling or buying you need a removalist. If you are unsure of how big a truck or how many boxes you need to move check our moving calculator for a guide.