A return to auctions ahead of 2021
The past month at BresicWhitney heralded a return to auction sales, with our sellers welcoming a late burst of 2020 energy.
With a massive 95 sales all up, those who have just missed out at auction have also been creating a growing pool of ready-to-buy home hunters.
Meanwhile, our off-market platform saw unadvertised sales spike, with 20% of our homes sold solely via bw.com.au.
A number of those campaigns were scheduled to hit the market in early 2021 achieved results there, and buyers continue to hunt.
With interest rates so low, homemakers have been driving most of the buying. However, we also saw a handful of investors returning to the market, which set up many auction campaigns for success.
It was the first time in a while that has happened.
BresicWhitney auctioneer and head of sales Thomas McGlynn says investor activity is a positive sign for selling in 2021.
“It has been interesting to note occasions this month where both buyer and underbidder were property investors,” Thomas says.
“That is a very good sign that there is confidence in the market.”
Meanwhile, property prices in every capital city increased in November, as the Reserve Bank cut interest rates to record lows and restrictions to limit the second wave of coronavirus outbreaks started to be lifted.
Apartments have been slower to bounce back in CoreLogic figures with a -0.7% decline noted for Sydney this month, but houses saw another 0.6% jump.
At BresicWhitney, the energy was felt across all brackets up to $6 million.
The $3m to $6m+ results
243 Bourke Street, Darlinghurst
4 Johnson Street, Hunters Hill
234-236 Palmer Street, Darlinghurst
238 Forbes Street, Darlinghurst
155 Darling Street, Balmain
5b/3 Campbell Parade, Bondi Beach
11 Jane Street, Balmain
22 Piper Street, Annandale
2/4 Weeroona Avenue, Woollahra
28 Princess Avenue, Rodd Point
10 Spring Street, Birchgrove
Quality homes, all sold off-market
109 Church Street, Camperdown
14 Gannet Street, Gladesville
29 View Street, Annandale
49 Phelps Street, Surry Hills
431 Crown Street, Surry Hills
505/38 Waterloo Street, Surry Hills
14 Hampton Street, Balmain
30 Wilford Street, Newtown
12a Earl Street, Hunters Hill
Homes $2m to $3m
144a Mullens Street, Rozelle
2 Lizzie Webber Place, Birchgrove
133 Pittwater Road, Hunters Hill
160 Alice Street, Newtown
13 Gannet Street, Gladesville
19 Day Street, Drummoyne
5 Upper Road, Forest Lodge
1 Mayes Street, Annandale
12 Ullathorne Street, Drummoyne
109 Pitt Street, Redfern
3 Merton Street, Rozelle
17A Farnell Street, Hunters Hill
2a Glades Avenue, Gladesville
8a Ewell Street, Balmain
587 Bourke Street, Surry Hills
3 Blaxland Street, Hunters Hill
85 Rowntree Street, Birchgrove
2 Walter Street, Paddington
52 Dillon Street, Paddington
100/249 Chalmers Street, Redfern
Lots more sold all listed here.
The rental market
The energy of investors returning to the property market spilled into our property management space. 64 new homes came under BresicWhitney management in November and we leased 150 homes in total.
Landlords need to stay proactive this month to be leased this side of the new year. Remember, the start of January often produces slow-moving rental properties. Here’s what’s been leasing.
We’re here to help you manage that momentum.
Check in with your BW agent ahead of 2021 here.