Top end of market flourishing
Sydney inspection numbers and auction clearance rates continue to indicate a more positive sentiment in amongst buyers. Also, there is a lack of stock in these markets, meaning more competition for the properties that are on the market. However, we...
Sydney inspection numbers and auction clearance rates continue to indicate a more positive sentiment in amongst buyers. Also, there is a lack of stock in these markets, meaning more competition for the properties that are on the market.
However, we still face possible headwinds from interest rate rises should the Reserve Bank of Australia feel the real estate market is a little too bubbly.
Meanwhile, the top end of the market, most likely less interest rate sensitive, has been thriving in Sydney and our region. During May, there have been a few $3m-plus sales to demonstrate the market’s strength:
- 18 Murrawal Crescent, Stanwell Park $4,850,000 – duplex sale sold off the plan via the developer (source SJC Property)
- 4 The Esplanade, Thirroul $3,300,000 – sold by Ray White Woonona
- 60 Beach Rd, Woonona $6,200,000 – sold by Dignam Real Estate
- 12 Maxwell Crescent, Stanwell Park $3,200,000 – sold by Ray White Helensburgh
