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Buyers! Come out and play…
Things are ramping up across Sydney as spring sellers go to market, making a noticeable spike in activity. In the past week, BresicWhitney open-home numbers went from 670 to 1030 groups. With bonus stock on offer, clearance rates slackened a little, yet high-end price points remain one of the strongest sectors. This home at 45 Douglas Street, Putney achieved a suburb record of $4.3 million.
This market often validates its strength in peculiar ways.
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After Grand Final and holiday distractions, we finished September with an overall auction clearance rate of 62%. The figures reported across the wider Sydney region were around 70%, a drop on the 2017 average clearance rate so far.
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With 72 sales for spring so far, Darlinghurst, Paddington and Surry Hills shone, along with strong demand for established family homes from Gladesville to Kingsford.
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The leasing market is hard to pick with everyone wanting to move, before suddenly going quiet the next week. Although, the figures consistently show a steady rental demand. The days-on-market indicator for the month was 16 days, with properties starting to lease faster in the last two weeks.
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