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.
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.
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.
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.