House prices in Sydney’s Dover Heights are moderately stabilizing after two years of rapid growth, making it one of the top 10 most expensive suburbs. There were only 28 properties sold in 2022, totalling $213,500,000 in gross sales.
There are two major questions on many people’s minds: what is the market value of their home, and what is the price they should pay for their next home?
With the ninth interest rate hike looming, there is much talk about the market being about to crash.
In my opinion, top tent suburbs are different from the general property market. Nevertheless, a housing market crash is defined by the loss of value and the inability to service the mortgage when people can no longer service their mortgages and have to sell. When they try to sell, they cannot get enough money to cover the loan payment.
Selling today is very different from recent years. I have over 30 years of real estate experience spanning many market conditions, and I am skilled at negotiating in a falling market.
If your circumstances suggest that you should sell within the next 18 months, then I recommend selling before current market conditions decline as more properties hit the market.
