There has been a discernible change in the Lower North Shore’s residential real estate market in 2018. Sale prices are now lower by 3% to 6% compared to the peak of the market in 2017. The most important factor seems to be fewer Investors being interested in buying. The Banks’ attitude has definitely been less favourable to investor lending, with a strong curtailment of Interest-Only loans and higher barriers to investment lending in general.
The Royal Commission has further exacerbated this environmental change. Most banks have also begun the process of requiring interest only loans to be restructured as principal and interest as they come up for review. This change alone can result in the monthly repayments increasing by 30% to 40%, something that will cause unwelcome stress to some investors.
To find out more about the recent sales in your area, click on any of the suburb links below for a detailed quarterly sales report.
Wollstonecraft – http://bit.ly/WOQsalesreport
Waverton – http://bit.ly/WAQsalesreport
Crows Nest – http://bit.ly/CNQsalesreport
Artarmon – http://bit.ly/artarmonquarterlysales