Sydney real estate once again proved that its strong 4-year run is far from over, with the city’s auction clearance rates nudging 80% last weekend.
The weekend auction results are great news for those considering listing a Sydney property, especially with fewer properties going under the hammer than midway through 2015. While overall listings in Sydney are down by almost 15% compared to the same time last year, on the demand side, there are plenty of buyers and investors who have decided to return to the market for a second shot at buying an investment or owner-occupied property, after missing out in 2015.
An earlier Easter in 2016 is also driving the ambitions of some buyers, which should make the next six weeks an ideal time to list a quality, well-priced Sydney property.
Sydney property market activity was also stronger as a consequence of many cashed-up buyers returning to the market. Now the holiday season is over and the kids have returned to school, owner occupiers and investors are back looking to secure a suitable Sydney property.
On Sydney’s Northern Beaches, there has been a spike in buyer numbers and sentiment over the past few weeks, according to Toby Hutton, Co-Principal, Raine & Horne Manly.
In the Inner West, an early Easter, previously vacillating buyers and fewer listings are combining to keep real estate markets such as Marrickville, Earlwood, Petersham, Canterbury and Dulwich Hill humming along, according to Michael Smith, Principal of Raine & Horne Marrickville.
Proving the renewed auction interest, Raine & Horne Marrickville held an in-rooms auction at Rydges Hotel, Camperdown, with the real estate firm selling 80% of properties on the night.