Welcome enthusiasm for Sydney property
As the mood lifted this month for property around inner Sydney, our buyers and sellers felt it too.
Amid the rate cut, election, and other forces in the market, BresicWhitney sold 79 properties compared to 54 last month. In the mix, a healthy pool of buyers and sellers came together to deliver 12 off-market sales.
It was interesting to see first-homebuyers so activated, making 26/16-24 Dunblane Street, Camperdown the most popular property of the month. It had 50 buyers inspect in one week and four bidders got involved with pre-action offers for a final sale price of $715,000.
There were notable sales from East to Inner West including more than $4 million for this Annandale terrace, similar prices for this Surry Hills residence, $4.6 million for this Darlinghurst sensation, plus this family home: arguably one of the best in Kensington.
The May clearance rate at BresicWhitney was 72% with the wider Sydney figure coming in at 60%
The BresicWhitney year-to-date clearance rate is 78% compared to the wider Sydney figure of 58%.
Sales were strongest in Paddington, Surry Hills, Redfern, Darlinghurst and Gladesville.
The winter slump hit the rental space like clock work. One thing we’re seeing at a micro level is the effect of supply and demand in new buildings. When a lot of apartments come up for rent at one time, owners in these buildings need to price with precision to attract tenants.