Buyers weighing up their real estate options may be interested in the most recent Herron Todd White (HTW) Month in Review. Looking at February 2015, the property valuing organisation provides its forecasts for the various property markets nationwide, which may be useful to peruse before getting in touch with any home mortgage lenders.
The report provides a wealth of information on New South Wales, from Sydney to Dubbo. As far as the former goes, while HTW is not expecting 2015 to match the exceptional growth of the previous year, it believes upward movement will nevertheless continue, albeit more subdued.
Among the Sydney suburbs to look out for in 2015 are Parramatta, Penrith and Seven Hills, all of which have low entry points but are set to see a large amount of infrastructure projects and growth. This not only makes the areas potentially ideal for investment loans, but also for ordinary owner occupiers, who could use their capital growth to help fund their retirement.
Other Sydney areas mentioned as potential prospects for first home buyers were Oran Park, Leppington, Catherine Fields and Gregory Hills, where buyers could buy a four-bedroom, two-bathroom home for lower than the Sydney median house price. With the Housing Industry Association noting on February 19 that land supply issues were coming to a head across the country, this will be important information for buyers.
Proving that 2015 wouldn’t simply be a good year for Sydney home loans, the report notes that the rest of New South Wales has plenty to offer buyers, too. The Illawarra market would carry on the strong growth it showed over 2014 until at least the middle of March, while a number of up-and-coming suburbs in Newcastle were picked as ones to watch, such as Wickham.
If you’re a buyer, these may all be names to put on your radar, too.