Thanks to huge interest rate cuts, the best we have ever seen and the ease of lending restrictions, we are now witnessing the return of buyers in force.
Growth in Sydney has outperformed all other capital cities, reaching .08 per cent over the last three months.
In fact, on average at most auctions we have seen buyers pay between 2-10 per cent above the top end of the agent guides.
This equates to over 16,000 properties changing hands in the spring season alone.
Of course, low stock levels have also been driving this hike.
We have seen the Inner West, Eastern Suburbs, North Shore and Northern Beaches have the highest demand for our buyers.
In contrast to the downturn of the market during the beginning and mid year, we only saw ‘A grade’ properties (nicely renovated on good streets) selling well.
We are now seeing ‘all’ types of property achieving good prices i.e. renovator delights and turn-key homes alike.
We are still expecting this buyer demand to take us right up to Christmas, so if you’re thinking of buying or selling, why not give yourself an advantage in a competitive market?
Please give us a call on 1300 447 732 or if you need to sell, call Tony on 0413 696 722.
Buyers, sellers returning to market in droves
AS we come to the pointy end of the year, and only have four weeks remaining of the ‘spring’ selling season, we have noticed that buyers and sellers alike are driving the market.