2017 is shaping up to be an exciting year for Nyko Property. We are sharpening up our delivery of information and content to make it easier for you to interact with us and find the information you require. This VLOG is part of the new way we will be delivering information to you.
Our aim is to provide information that will help you make positive business decisions as well as items that you can selectively deliver to your clients – adding value to your relationships.
Our focus on 2017 will be on property within Melbourne, Sydney and Brisbane.
Both Melbourne and Sydney continue as the growth economies with drivers in the services sector pushing the economy along. This moves us further away from the resources sector, contributing to almost a third of all GDP growth. Brisbane is also an area of interest, with its strong population growth alongside exciting new infrastructure developments.
At Nyko, we don’t believe in the oversupply myth. Yes, there are certain pockets of Melbourne that are oversupplied, but Nyko has never recommended those areas, and with vacancy rates under 3% in all the suburbs we offer, supply is certainly not an issue.
In 2017, we are going to be very careful about the developments we approve, concentrating more on small boutique blocks with larger one-bedroom apartments, as well as two and three-bedroom apartments that will suit the owner occupier in the future.
We will also be looking at house and land packages and townhouses within Melbourne and continue to be very selective with these developments too.
When it comes to Sydney, we believe the market is going to be similar to the last few years, making it very difficult for us to get a project at valuation price in the right area. Value is a real problem in Sydney at the moment and although there are still some areas with room to grow and new stock coming through, developers are simply not willing to sell at valuation.
Remember that a good property is not a good property anymore, if it’s not at valuation – especially if you are overpaying.
Brisbane has some very good opportunities right now and over the medium term, it is likely to be the best performing market. The value available in this city dwarfs that of Melbourne and especially Sydney with good quality townhouses in the high $300K as well as house and land packages within the inner side of Brisbane just 15-20km out of the city at $500,000.
In terms of apartments, we will be very selective about what we approve due to the short term supply issues in some locations. We will concentrate our efforts on the inner northern corridor which has less supply and will benefit most from the new road and airport infrastructure projects being delivered in the short term.