Spring Selling and Market Resurgence

The Sydney property market still remains very strong with the auction clearance rate bouncing back to above 85%, its highest rate in a year. We believe two factors driving this are, a lack of stock in the market and the low interest rate environment. With less properties on the market, buyers are having to compete to secure their ideal property. 

 

Over the past two weeks, we have had a strong above market auction clearance rate, with many properties selling prior to auction. Properties sold at or prior to auction in the last two weeks include:

 

9 Willow Close, Epping - $1,638,000

10/37 Khartoum Road, Marsfield - $792,000

12 Welby Street, Eastwood

86 Eastwood Avenue, Epping 

10 Adina Street Telopea - $1,473,000

 

Interestingly, several of these properties were on the market earlier this year or late last year and have now achieved sale prices several hundred thousand dollars higher than the previous highest offer.