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.
Confidence continues to build across Sydney as well-presented properties attract strong enquiry and competitive offers. In this update, Melanie Lahoud and Breanna Skewes share what’s driving buyer behaviour, auction results, and investor activity. Quality listings are generating strong inspection numbers and decisive offers Auctions remain the preferred method of sale, … Read more
July 23 marks National Property Managers Day, a moment to pause and recognise the people who work tirelessly behind the scenes to care for homes, support landlords, and ensure tenants feel looked after. At Ray White Double Bay, we’re proud to celebrate our dedicated Property Management team. They are the … Read more