Weekend Wrap: It's a Buyer's Market

The weekend around the shortest day of the year for 2022 saw a pleasing increase in the number of buyers inspecting properties in our area. However, with an incredible number of properties now on the market (55 in postcode 2515 and 23 in 2508, according to realestate.com.au), buyers have a lot of choices and they were busy going from one to the next over the course of Saturday.

It is now a Buyer's Market and sellers wishing to sell have to meet the buyers' demands. Sellers can no longer expect to achieve the prices from late last year or early this year. It is nothing new and has been seen before following any booming market. This time the recent boom was unprecedented, so expect some turbulence in prices over the coming months.

There were a few notable sales over the past week, the first being two acreage sites in Helensburgh at 140 and 158 Walker St, which sold relatively quickly. The price was undisclosed and rumoured to be about $2.15m for each property. And in Coledale the first sale in a while – 723 Lawrence Hargrave Drive sold for $1,762,022.

About the author

Ian Pepper has had a long and distinguished career as a finance and real estate professional. Originally trained as a Chartered Accountant in 1995, Ian worked in Sydney and London. He has an MBA from Macquarie Graduate School of Management and now sells real estate with Ray White Helensburgh. Ian also volunteers with local community groups including school P&Cs, sporting clubs and business chambers.