Home stretch
The broader Sydney property market has been trending downwards over the past month with its clearance rates, yet we saw our own figures spike towards the end of the month, with last weekend hitting 85%.
Still at 76% for the month of November, the inner-city markets often reveal their own strength, outshining Sydney averages. In city villages, we feel this buoyancy in the apartment market and sub-$1.5 million bracket.
Our year-to-date clearance rate sits at 85%. A strong result, we’re still seeing this level of action to the end, when quality stock is matched with considered vendor expectations.
Perhaps the best measure of the inner city, Paddington can be on fire when it’s hot, and passé when it’s not. However it’s remained as popular as Surry Hills and Darlinghurst this past month. The well-regarded pockets of Hunters Hill have also managed to retain their momentum.
Sydney’s renters are now preoccupied with the festive season, or have already moved. However, mid-week opens have been more popular than the weekends, and plenty of tenants are voicing their intent to be ready to move for the right home come January.