The Macro Picture – yields remain relatively attractive
The number of sales transactions continues to improve across the Byron Shire market. In particular, we are seeing investors and lifestyle purchasers return to the market as global economic conditions continue to improve (the recent wobbles notwithstanding). A recent report by UBS on the Australian property market predicts that property prices will increase by 7% nationally this year. If it materialises, we think this will be driven by supply constrained markets like Sydney and Perth, however, with interest rates likely to remain at historic lows in the short term, the relative yield from real estate remains attractive and, with prices yet to recover in most segments, the Byron Shire looks attractive.
Read more at Eureka Report: