Many thought prior to the Federal Election, that the Sydney property market was not the right place to invest. But despite uncertainties, Sydney’s home auction market has only strengthened in recent weeks. In one week the weekend clearance rate was 73.5% and a week later, 75.4% with the main driver being Sydney’s market is characterised by fierce competition between buyers, over smaller pools of property.
Last year 605 properties went to auction on the same weekend that this year was just 419. As expected, it was way ahead of the 200 auctioned over the election-day weekend.
In most regions and the Eastern Suburbs in particular, the Sydney home-auction market continues to record robust results for sellers with strong buyer competition for listings.
Although the Reserve Bank has left interest rates on hold over July at a record low 1.75%, it is very possible there will be a further reduction sooner rather than later – perhaps as soon as next month.
Low and falling interest rates supports buyer and seller confidence with strong competition amongst banks for mortgage customers also driving housing demand.
Director of Property Management, Margie, began her journey into Property Management driven by a desire for a more exciting career path. What started as a receptionist role at her local Real Estate Agency quickly evolved into opening her own office, before taking the bold step of merging her rent … Read more
The rental landscape is set to shift in 2025 with new legislative changes to create a fairer and more transparent framework for tenants and landlords alike. These updates will affect rent increases, tenancy agreements, notice periods, pet ownership, and rent payment methods. Here’s what you need to know: Rent Increases … Read more