The Sydney Property Market - What's Going to Happen?

I see happening in the Sydney market going forwards if you define the report right now. you've starting to see that auction clearance rates are starting to drop we're having a month now of next to no growth in Sydney. so what's going to happen more importantly why are we seeing the change I'm in the first three months of 2017 Sydney  was still going great so what's happened as  much why April May.

 we sing these slowdowns look if this was I guess a free market and it owned by errs and tells were the only ones determining prices and everything else would be fine but unfortunately we don't have that exactly. you see the cooling in the Sydney market is essentially being driven by the government via opera and the banks. so if I was look at the three major reasons why I'm seeing the Sydney market cool it's these three number one banks of raising rate independent the Reserve Bank. I sort of caution everyone about this back in December of 2016 and it's certainly happening now more and more  so that's making property and loans even less affordable and so hence people are paying the price is that.

 they were number two banks are looking to lend less so how are they doing that well just in the last four weeks I've seen many lenders. now completely remove their 90% interest only loan product to investors so that means as an investor.

only got two choices if you want 90% you'll have to pay principal interest which is going to hurt your cash flow or you've got to limit your borrowing to only 80 percent. so that means if you're going to buy a property at a $600,000 rather just having 60 grand for deposit plus cost you now have to come up with $120,000 plus costs not even got that extra money lying around. so banks are looking to lend less to deliberately cool the market but the third thing I missed once was the scariest of all is I'm seeing banks under value property now. what do I mean by that well I've seen people who bought apartments and I'm you see in the apartment market right now partner most say year or two years ago for example a prospective buyer bought apartment in Sydney or Western Sydney for about ten and seventy thousand dollars a couple of years ago. he then wanted to use some of the equity in its property or deck we thought he had to revalue and he wanted my help to buy an investment property but the problem was that.

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