JLL Releases Sydney Housing Market Report

JLL has released their Sydney Housing Market report which details that the Sydney market will continue to face headwinds in the near term. Supply is forecast to remain well below that of recent years with a sharp decline in apartment approvals of nearly 50% and a decline in house and semi-detached houses. Demand continues to remain soft, however may improve as lending conditions ease. Pricing of houses continues to decline due to unaffordability with apartments remaining a more affordable option. Rental rates are stalling due to vacancy rates having edged up to 3.7% following strong completions throughout 2018.

BPFM’s view on the Sydney Housing Market remains cautious with declines in market values and sales volumes expected throughout 2019. With significant investment in infrastructure, a growing economy and a low unemployment rate, the medium-term outlook for Sydney remains positive.

Download the full JLL Sydney Housing Market report here.