While a ‘wait and see’ approach has dominated the Sydney property market for 2016, that sentiment was nowhere to be seen in May. At BresicWhitney, buyers and sellers were more insatiable than they have been all year. It made for a record month. So here are a few things worth noting.

– More than 90 properties traded. Not just a top May, that’s an all-time record in terms of our monthly transactions.

– The highest prices ever were achieved for 3 different suburbs, Rozelle (off-market), Darlington and Tempe. It’s interesting to see renewed gusto at the top end.

– Sales spread over more suburbs than ever. The action wasn’t limited to the inner city; rather, it was felt across 40 suburbs.

– Off-market transactions made up 20% of activity. There seems to be a growing trend for people wanting to sell ‘under the radar’ leading into winter.

Whether it’s a post-budget unbridling or pre-election blast, the impulsiveness is back.

The month saw an increased clearance rate of 86% compared to the wider Sydney rate of 75%. Even with our 40% jump in stock from April, buyers had plenty of appetite to devour the additional listings.

Our year-to-date clearance rate remains strong at 87%. A couple of lively May weekends propped up the wider Sydney rate, which is hovering around 69%.

The month’s broader activity of 40 different suburbs stretched from North Ryde to Kingsgrove in the south. The Eastern Suburbs and Inner West were bustling from Bellevue Hill to Dulwich Hill.

If there was a cooler side to the market, leasing felt the freeze. With fewer people attending opens, property prices need to be precise or potential tenants will overlook homes altogether. For both landlords and home-hunters, the shift to blustery weather last weekend threw up plenty of challenges for those looking to sign leases before winter.