Sydney switches off property
The first month of winter delivered sluggish moments for buying and selling property in Sydney. Home-hunters are being cautious and becoming more tentative off the back of negative media, making buying and selling markedly slower.
Amid all that we see people making bold moves.
A classic city home at 107 Evans Street, Rozelle sold for $1.86 million after just one inspection, with 13 groups from our ‘off market’ network attending. Our network buyers also competed to secure this Kensington apartment. It sold for $1.75 million, surpassing a $1.535 million benchmark set in the complex last year.
We saw 17 of 71 properties transacting ‘off-market’ showing informed buyers and sellers still transact in cooler periods. That’s almost a quarter of our properties selling without wider advertising or promotion.
The BresicWhitney year to date clearance rate sits at 71% compared to the wider Sydney figure of 63%.
Sales volumes were strongest in Surry Hills and Darlinghurst, with plenty of action from Rozelle to Ryde.
The rental scene continues to be a tenants’ market and quality modern apartments have set new benchmarks for renters’ wish-lists across the city. We’re experiencing more willingness to live further away from the CBD if that means discounts in rent.