Making predictions about the real estate market is a waste of time, right?
Tell that to the buyers who’ve been snapping up properties across Ryde over the past few years, because they’ve only got one thing on their mind: capital growth.
How do we know a property in Ryde is set to become one of your best investments? To answer that question, let’s do a little evidence-based fortune telling.
By the end 2017:
Plans will be unveiled for the new Macquarie Central development, linking Macquarie Park station and shopping centre.
Our prediction: This station upgrade will have an impact on real estate prices across Macquarie Park as commuting becomes easier and new businesses move in to take advantage of the space. This will likely have a knock-on effect in surrounding suburbs, pushing prices higher again.
The City of Ryde will be that much greener with large-scale improvements completed along the Shrimptons Creek Corridor.
Our prediction: These improvements are only going to make suburbs near the creek more desirable for families with young children – or in fact anyone who values spending time outdoors in their community. A bump in price for surrounding properties seems a safe bet.
The number of dwellings available in Macquarie Park will have increased to almost 5,000.
Our prediction: With many of these new dwellings coming in the form of units in areas close to Macquarie Park station, this increase could take the pressure off the rental market as Macquarie University students and other renters move in. But we don’t predict any drop in price for other types of residential property – they’ll still be responding to Ryde’s ever-growing population.
Sydney’s overall population will have grown by 1.3 million people.
Our prediction: This influx of people looking for places to live and work close to the city centre is only going to keep the focus on locations across the City of Ryde. Buyers looking for a long-term investment can rest easy – your suburb will still be in demand even 15 years from today.
What does this mean for sellers?
With average annual growth in house prices across Ryde at almost 10%, the big question remains: should home owners hold onto their property for another year or two to achieve an even higher sale price? Or is now the best time to sell?
While we’re all for broad predictions, when it comes to your particular property we stop short of giving one-size-fits-all advice.
What we can do is offer a property appraisal to give you concrete figures and advice to work with. Our team are happy to talk with you whether you’re planning to sell in the near future or not for the next year or two.Request a Property Appraisal