Welcome Changes in lending criteria for investors is making it harder to secure a loan. McGrath’s mortgage broking division, Oxygen is up-to- date with how each lender has altered its criteria and can advise you on which bank is best for you. For a personal referral to an Oxygen broker, please call John Paranchi today.
John Paranchi T 02 9816 8110 M 0411 508 890 E johnparanchi@mcgrath.com.au
The Local Market The 2015 financial year has been a fantastic selling period, with my team and I achieving just under $80M in local sales and three suburb records. Suburb records – Paranchi Team FY2015 • Highest price in Putney – $4.25M • Highest non-waterfront sale in Gladesville – $3.75M • Highest non-waterfront sale in Putney – $3.5M We are now gearing up for what will likely be the last major selling season of Sydney’s boom, following a 43.1% increase in property prices over the past three years (CoreLogic RP Data). Local selling conditions have been enhanced by a very limited supply of homes for sale which has heightened buyer competition. In Gladesville,
there were 40 fewer houses sold in FY15 compared to FY14. Sellers now have only a small window of opportunity to take advantage of this before a significant increase in stock over Spring. Looking ahead, we expect a strong Spring with a stabilisation in property values by Christmas and a slower pace of growth in line with the rest of Sydney in 2016. If you have been waiting for the optimum time to sell, the next six months is it. Respected independent market researchers BIS Shrapnel predict Sydney’s price growth will halve in FY16. Valuation firm Herron Todd White puts Sydney at 12.00pm on the property clock, meaning it is at its peak. If you are considering selling, please call me for a free no-obligation appraisal on 0411 508 890.