With another hot month away, it can feel as strong as the Sydney property market gets. However, buyers are savvy and educated, not overzealous.

Strong spring selling continued across Sydney this month, while uncovering some truths about inner-city buyers. They’re out in force and they’re purchasing. But they know their limits and they demand value. There were reports of year-high auction clearance rates across the metro area, mirrored if not amplified, in inner-city markets. At BresicWhitney, October delivered a 90% clearance rate one weekend, and another at 100%. Other weekends threw lighter figures into the mix, 80% and 67%.

With the 2016 buyer more educated, they’ll back away when the price isn’t justifiable. It’s not always as gung-ho as it seems.

A further sign of strength is the fluidity the $3 million + range. It’s attracting buyers both off-market and through to auction. We saw strong demand for premium properties including these in Paddington, Annandale and Woollahra.

The BresicWhitney clearance rate for the month averaged 88% while Sydney’s was also a healthy 80%.

In a strong year, it’s almost on-par with year-to-date activity. Our 2016 clearance rate sits at 85% alongside Sydney’s 80% result.

The spread of this month’s sales included a wide cross section of offerings from this $675,000 apartment in Darlinghurst to those premium properties including this $4,150,000 residence in Hunters Hill.

The rental market is now enjoying an increase in enquiry and attendance coming out of winter. The high end can still falter, but mid and low range properties move fast. Tenants are now also motivated to secure homes without delay. With landlords conscious the end of year is approaching, we’re seeing new listings quickly find a match.