Sydney buyers & sellers find common ground

Activity and behind-the-scenes selling lift, as sellers and buyers realign.

After a lacklustre start to spring, the expectations of buyers and sellers seemed to realign for October. In terms of sales volumes, we experienced one of the better periods we’ve seen post boom.

That delivered some quick sales at both ends of the market. This renovated 1867 sandstone residence in Hunters Hill sold for $6.75 million in 2 weeks and this one-bedroom Art Deco pad in Darlinghurst sold for $750,000 within a week.

We saw a resurgence in off-market sales. And that happens when buyers and sellers are in the same head space. This time, it’s sellers who have become more in tune with market conditions.

At the same time, the auction scene continues its shaky trend.

The BresicWhitney year-to-date clearance rate is 67% compared to the wider Sydney figure of 55%.

Sales activity was strongest around Darlinghurst, Surry Hills and Redfern, as well as for homes in Hunters Hill and surrounds.

The rental scene is a similar story. We’re seeing an increase in attendance and more homes are leasing, but pricing is still critical.

At the right price, people have a choice of good tenants. But if rents are slightly ambitious, finding a match is tough.

Some current BresicWhitney homeowners are now offering 14-month lease terms to ensure their tenants have some security through next year’s holidays. And tenants are welcoming that flexibility.

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