The Sydney real estate market is hot and we have clearly witnessed one of the strongest selling seasons over the past 12 months in the 2110 postcode.  The most evident change throughout the Hunters Hill and Woolwich market  is the increased buyer activity and renewed buyer sentiment. Properties in all price ranges have had excellent growth – Hunters Hill has recorded 10% growth in the 12 month period.

I am seeing buyers take advantage of the price growth in the lower sector of the market as they recognise that Hunters Hill offers potential for upgraders.  In the past, our buyers have predominantly come from the Inner West  looking for larger block sizes, better value for money, and desirable features like off-street parking. Recently I have also seen an upswing in interest from buyers who have benefited from price rises in Northern Districts suburbs such as Ryde, Eastwood, Beecroft and beyond as they look to Hunters Hill for a lifestyle change.

The market, albeit in good shape, remains price sensitive as buyers are now well informed and have a good sense of their expectations before they even view a property. The sub $2.5 million price bracket is where there is pent up buyer demand.  These buyers are ready to proceed quickly when the right property becomes available. Family homes on good size parcels of land (over 750sqm) are very popular with couples upgrading to the next level with the lure of excellent educational facilities and good transport to private schools on the North Shore.

Apartment buyers have been aggressive in trying to secure a property and I have seen heightened activity through most properties in the $600,000-$1,500,000 range.  There is a real fear of missing out and most buyers feel they are being priced out of the market and the record-low interest rates are impacting this sector of the market the most.  

There has been a spike in prestige sales and for the first time since 2007 we are seeing this sector of the market performing well.  Overseas buyers have definitely fuelled the upper end of the market, attracted to the area due to its proximity to the Sydney CBD, prestige nature of the suburb and access to Sydney Harbour. We have just finalised the sale of a north facing waterfront in Campbell Street for over $8 million to an overseas buyer, the highest price achieved in Hunters Hill this calendar year.

Owners of prestige homes are seeing the increased confidence as offering a good opportunity to downsize both within the area and to new developments in surrounding suburbs. Our Hunters Hill office achieved 40% market share in the area where we recorded an average sale price of $1,909,000. My team has a personal auction clearance of 80% this financial year and with record high auction clearance rates in the Sydney market, I expect that we have not seen the end of this buoyant selling cycle.