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.
Last week we held our annual Ray White Double Bay Kick Start event in the Hunter Valley. A great opportunity to build as a team for 2021 but to also improve and hone our skills as Real Estate professionals. Jet Xavier introduced our agents to his High Performance Human Program … Read more
After a challenging year I am so proud of the team for the amazing results we have achieved. Close to a billion dollars in sales for 2020 is nothing short of phenomenal. Thank you to the entire office for all their hard work and professionalism. I’d also like to thank … Read more