A new kind of normal
It’s a new market but it was a typical July. Last year we reported healthy buying and selling alongside a lack of urgency. And in 2017, it’s much the same.
Buyers are relishing the chance to snap up property as rabid competition stripped back. And sellers are navigating this less fiery marketplace, honing in on one-buyer auctions and a range of experienced spectators who are yet to secure homes.
To put July into perspective, we sold 69 compared with the 67 sold last year (considered a slower month of a heated year).
BresicWhitney finished July with an overall auction clearance rate of 71%, in line with the figures reported across the wider Sydney region. Meanwhile, the year-to-date clearance rate for BresicWhitney is 81%.
Those 69 sales happened in a range of price brackets and from Kingsford to Concord. There is still activity from Woolloomooloo to Alexandria in those fast-moving city suburbs.
It continues to be a tough time for the rental market with more stock online and fewer people looking to move. Spoiled for choice, tenants are looking for added appeal such as this home in Paddington, which saw increased inquiry after being adjusted to ‘pets considered’.
However, standout properties with competitive pricing are still attracting multiple applications, often leasing after first inspection.