This Week In Property 4 February 2020

5 THINGS YOU NEED TO KNOW THIS WEEK - 04 FEBRUARY 2020

Your quick guide to all the key stories from the property industry this week.

1. The cost of existing homes in Sydneyrose more than 1 per cent in January, and affordability of existing residential property dropped 4 per cent in the December quarter.
2. ANZ reckons Sydney prices will increase by 10 per cent in 2020.  This means a house worth $1 million today will be worth at least $1,1 million by Christmas.
3. According to ME Bank, first home buyers are largely responsible for driving house prices up at the moment.  Might be worth thinking about ditching expensive FOMO and building a new one instead…
4. Looking for a pay rise this year?  If you work in retail, finance or real estate, you’ll probably get one according to this study.
5. Word on the street is, the RBA is unlikely to cut interest rates again this week – although the economic impact of coronavirus may mean more cuts sooner than later.