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Welcome to the June 2023 Kincade International Realty Newsletter.
The results are in for May 2023 and the market has again picked up in many suburbs and confidence seems to be back in the market.
Corelogic's daily home value index suggests Sydney house prices rose 1.8% in May 2023. Proptrack reports Sydney home prices lifted 0.58% in May. Dr Andrew WIlson's My Housing Market showed Sydney house prices up 1.4% in May and Sydney unit prices rose 1.1% over the month.
However, after a boom in the market through 2020 and 2021, Sydney housing values have fallen 12.3% from their peak in January 2022. But this is still approx on average 20 % higher than pre-COVID-19 figures.
At KIR we believe that the Sydney housing market has turned the corner, with all major research firms showing an increase in the Sydney housing market and unit prices over the last months.
We believe that this creates a window of opportunity to get into the property market as the Sydney market picks up again. Sydney has shown signs that the bottom of the market downturn has been reached, following a number of month-on-month increases in median property prices.
There are approx 5 million people in Sydney, by 2050 it is estimated that Sydney will have 8 million people and NSW will have 10 million inhabitants.
We believe that Sydney has a unique lifestyle compared to other major cities around the world and that the economic benefits will attract overseas migrants from across the globe, as well as high paid jobs.
At Kincade International Realty we would recommend that rather than trying to time the market for your next property purchase, based on where we are in the current property cycle. We would suggest taking a longer view. If your income is currently secure and the time to purchase is right for you, this may be an ideal time to invest in the Sydney property market.
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INTERNATIONAL PERSPECTIVE
According to the Real estate portal, realestate.com.au they reported the highest level of search activity from overseas ever in the March 2023 quarter, led by New Zealand, the United States, the United Kingdom, and China. Many of the foreign buyers are looking for properties $4M and above. The end of COVID-19 restrictions in China in late 2022 is a key reason for the recent increase in international buyers, as China remains one of Australia’s biggest source countries for migration.
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INTERNATIONAL BUYERS
(source : John McGrath - CEO McGrath)
The bounce-back in international buying activity overall is strong and significant this year. Following the pandemic, a lot of people are wanting to park their currency in Australian dollars and in a safe and stable political environment.
Most overseas buyers of Australian property have significant wealth behind them. In particular, we are seeing a lot of buyers from China either paying cash or with relatively small loans. Cash buyers obviously aren’t concerned about rising interest rates. Their investment decisions are much more about long-term security and strong returns.
Some people are selling their properties in overseas locations and redeploying those funds in Australia.
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Idyllic Resort Style Living on 5.5 Acres With Two Sided Access Plus An Adjoining 7.3 Acres of Licensed Crown Land
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A highly impressive property of both space and abundant potential.
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BUYERS:
Please contact us to learn how
we can assist you with your
purchase whether you are in
Australia or abroad. We have
very competitive buyer agent
rates and we will more than
cover our low commission rates,
with the amount we will save you
in your purchase. Please reach
out to our team office@kincadeintrealty.com.au
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SELLERS:
All is not lost, this will be a
tough market for 18 months, but
we have off-market buyers who
are looking for the right
opportunity and will pay a fair
price. Please reach out to our
team office@kincadeintrealty.com.au
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CALLING
ALL AGENTS: WE ARE
HIRING!
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Kincade
International Realty
(KIR) invite Real
Estate Professionals
to expand their
career and join our
firm of
International Real
Estate Specialists.
Our Company embraces
trust and freedom. A
genuine leadership
style for flexible,
experienced Real
Estate Sales Agents.
The Founder’s career
sales have reached
US$500 Million AUS
$750 Million. With
offices in both
Sydney and New York
we undoubtedly have
an appreciation for
diverse cultures and
clientele. Our
company operates on
the highest level of
professionalism and
has built many
long-lasting
relationships with
International and
Local Clients. Their
Sydney office is now
expanding in a
unique way!
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VIDEO
MESSAGE FROM DOMINIC
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Kincade
International Realty
brings the best of
global real estate
practices to
Australia, leading
the field locally in
providing our
clients with the
service of both
offering their
properties for sale
as well as finding
real estate
properties for
purchase.
We believe that
helping our clients
find and sell
properties makes
perfect sense in a
world where every
client will be both
buyer and seller
during their
property journeys.
We value long
standing
relationships with
our clients and
pride ourselves on
offering experienced
trustworthy
end-to-end service
uniquely tailored to
each client's needs.
With global
connections, we can
also offer
assistance with
property
transactions in
major markets around
the world.
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SUZUN
BENNET
Senior Sales
Executive
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An
expert on
penthouses,
new
developments,
and other
luxury homes,
Suzun has
earned a
record as a
top-selling
broker in New
York's
high-end
market
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STEPHEN MUSZKAT
Senior Sales Executive
Sellers Advocate
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Core areas of experience and expertise: Eastern Suburbs/ Northern Beaches/ North Shore
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LANA
BELOFF
Sales Executive
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Lana has built an impressive client base through her dedication to clients’ real estate requirements
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COURTNEY
NGUYEN
Sales
Executive
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Courtney
has been
working in the
Sydney real
estate
industry for
over fifteen
years
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38 Coasters Retreat – Palm Beach – NSW – Australia
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Oversized,
A magnificent ‘off-market’ residence on Coasters Retreat, NSW
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Please
visit our website for all our lastest
Listings: kincadeintrealty.com.au
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Please checkout our
new site: kincadeboats.com.au
we are now able to
offer the great
little 240 Sea Ray
family overnighter
has all of the
features you would
expect in a
production built
American cruiser.
With features like
shore power, good
galley, enclosed
electric head with
holding tank and
shower, swim
platform, V Berth,
convertible dinette
to double berth and
double aft berth for
overnight stays you
and the family could
stay out overnight
and enjoy our
magical waterways.
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Dominic
Longcroft: The
Sydney real
estate agent
with NYC and
Switzerland
prestige
market
credentials
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We
maximise the value of our
clients' homes across the
country. Get in touch to see how
we can help you.
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©
2023 Kincade
International
Realty PTY Ltd
, all
rights
reserved.
Level 1, 377
New South Head
Road
Double Bay,
NSW, 2028,
Australia
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Company
number ABN
15636173487
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