Debate has been rife throughout March as to whether buyers are as eager as they were earlier this year. Their ferocity is what has driven the 2017 market so far. Whatever side of the fence you’re on, buyers drove more sales than ever at BW last month. And some wild moments.

One property generated enough interest off-market to warrant calling a snap auction. The home at 29 Gurner Street, Paddington resonated with prospective buyers who were keen to bid, and an auction was booked for the following Saturday.

It saw 3 registered bidders on the day, and a successful result.

Another terrace house at 736 Elizabeth Street, Waterloo sold off-market for $1.975 million to a buyer looking at Surry Hills apartments. In total, we introduced just 3 offline buyers to the property, which had failed to sell with another agency online. So if buyers seem more cautious, it’s not enough to affect momentum just yet.

Of our 80 March auctions, 70 sold at/before auction for a clearance rate of of 88% with noticeable strength in particular luxury brackets. Homes between $2m and $4.4m saw 100% clearance.

Most of the March sales fell into the $1m to $1.5m bracket with 19 of these 20 homes selling at/before auction across the city. The highest auction sale for the month was 88 George St, Redfern, selling for $4.4 million.

The rental market is up and down as it slows coming into Easter. Yet some weeks in March delivered the most inquiries we’ve seen all year. As we drift into slower months, it’s important to adjust price quickly if the demand isn’t there. Most landlords are being wary with price increases, looking further towards May (a traditionally busy month) for renewed vibrancy.