A great snapshot of the market

The market is changing. Buyers are out and about looking, however they are price sensitive. Auction clearance rates over the last 2 weekends have fallen to 50% which now reflects a buyers’ market. The number of properties for sale is about 5% above the 10-year average which is also putting pressure on prices as buyers have more choice. Despite all of this we are still selling homes and vendors that are meeting the market are happy and moving on with their plans for the future. Our opinion is the current market is a great one to transact in if you are selling and then buying in the same market. This is especially the case if you are looking to upgrade from a smaller property to a bigger one. The price differential is narrowing. I receive a great article from Ben Southwell at Cobden and Hayson in Balmain this week that sums up the Sydney market perfectly.

Read here: 24 March - The Reality Check vs. The Prestige Peak