Out of the gate, the Sydney property market has bolted for a fast start. Will it translate to a wild ride for 2017? That remains to be seen. However, if we compare the mood to 2016 (a strong year), all signs are pointing towards a healthy 2017 marathon.

Last year was a record February for BresicWhitney with 58 auctions for the month. This year, we’ve already booked 82 February auctions. But what happened last year is the market went frenzied in March. Go figure. So if our imminent February activity gallops into March, we could be in for another wild year.

Before the holidays, we saw properties changing hands all the way up to Christmas Eve. We even saw exchanges between Christmas and New Year.

January 2017 saw 23 sales across the BresicWhitney network. With 6 sales occurring ‘Off Market’, more than a quarter of our properties are selling without advertising on the major portals. The assortment of January sales included a wide spread of price points from a $426,000 investment studio in Chippendale, to premium properties including a $2.5 million Balmain warehouse.

On the rental side, homes are leasing quickly even though there seems to be a wide selection of listings throughout inner Sydney. We wrapped up with 60 leases in January, and plenty set to kick off in February. Our new listings are gone in an average of one week. Meanwhile, re-listings are also being snapped up in around 10 days.