Sydney Morning Herald: It will take at least two years for the Sydney housing market to emerge from the crisis
Sydney Today, April 4th, Australian Eastern Time, the 18th Annual Australian Real Estate Orientation Survey shows that it will take at least two years for the Sydney and Melbourne property markets to get out of the current predicament, but once the turning point comes, the upward trend will be very strong.
If we use a clock to describe the housing market cycle, then from 12 noon to 6 pm is a downturn, and after 6 o'clock is a period of recovery. The survey data shows that: Sydney's residential property market has not changed in 7 years. This data has been collected, but it is unlikely that there will be any changes in the next two years.
The respondents to the API's real estate market direction survey included real estate experts from more than 30 representative real estate agencies across the country—including appraisers, fund managers, real estate analysts, and real estate financiers. The results of the survey released yesterday cover residential, commercial, retail and industrial properties in Sydney, Melbourne and Brisbane.
The survey data shows that commercial real estate is still relatively popular, and industrial real estate is still at the 7 o'clock position. Thanks to the demand for warehouses in the e-commerce sector, it is in a stage of recovery. API’s NSW vice president Tyrone Hodge pointed out: The survey shows that the housing market in Sydney, Melbourne and Brisbane is currently almost at the low end of the housing market cycle, and there will be no major improvement within two years.
Hodge said: "In 2013, residential properties in Sydney and Brisbane are expected to start to rise, but Melbourne may still be at the bottom of the cycle. Housing power is still the most important issue facing Sydney. Only when housing power improves can the real estate sector be expected to move out. The trough, usher in recovery." (Wendy)
English version: http://smh.domain.com.au/real-estate-news/survey-housing-market-stuck-in-trough-20120417-1x4tc.html