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The
Propertybuyer

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Hear the latest weekly insights into the property market via podcast by Rich Harvey, CEO and founder of Propertybuyer.

 
Wed 22 Nov '23 with Rich Harvey Using Data & AI for Better Property Decisions
 
 
Thu 7 Sep '23 with Rich Harvey Northern Beaches Real Estate Outlook & Industry Trends
 
 
Thu 20 Jul '23 with Rich Harvey How Sales Agents Think
 
 
Thu 15 Jun '23 with Rich Harvey Auctions – The Inside Scoop
 
 
Fri 9 Jun '23 with Rich Harvey Financing Innovation & Building a Property Portfolio
 
 
Thu 25 May '23 with Amanda Jones Melbourne Property Insights
 

 

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NSW economic activity brings good news for investors

April 30, 2014 / Written by Rich Harvey

 

By Rich Harvey, CEO, propertybuyer.com.au

The current economic situation in New South Wales should give Australians the push they need to buy investment property in Sydney.

Data from the latest CommSec State of the States report shows that NSW has moved from fifth place to have the third best-performing economy in the nation.

"New South Wales has lifted from equal fifth spot to third, courtesy of improvements in economic growth, business investment, population growth and dwelling starts - on the
latter two indicators it leads other states and territories," the report explained.

Activity was particularly strong in the housing sector in the state, as well. NSW was one of four states and territories where trend housing finance commitments were above decade averages.

Commitments in the state were also above year-ago levels during February.

This translates to good news regarding the potential for rising house prices and capital growth for investors, as more dwelling finance commitments mean higher demand.

However, investors don't have to be too worried about not being able to find real estate to invest in, as NSW is the national leader in new home building.

"NSW is now the strongest in the nation for new housing construction, with starts just over 39 per cent above decade averages," the report continued.

"In addition in the December quarter, the number of dwellings started was 18.1 per cent higher than a year earlier."

With Sydney acting as the crown jewel of economic and housing activity in NSW, this data should go a long way toward convincing those on the fence that now is the time to find a qualified Sydney buyers agent and make the most of the market.

From the inner west to the eastern suburbs and everywhere in between, figures show that NSW's economy is on the rise with housing leading the way.

The Propertybuyer
Podcast

 
Wed 22 Nov '23
with Rich Harvey
Using Data & AI for Better Property Decisions
 
 
Thu 7 Sep '23
with Rich Harvey
Northern Beaches Real Estate Outlook & Industry Trends
 
 
Thu 20 Jul '23
with Rich Harvey
How Sales Agents Think
 
 
Thu 15 Jun '23
with Rich Harvey
Auctions – The Inside Scoop
 
 
Fri 9 Jun '23
with Rich Harvey
Financing Innovation & Building a Property Portfolio
 
 
Thu 25 May '23
with Amanda Jones
Melbourne Property Insights
 

 

Listen to many more
podcasts on our
Podcasts page.