The Sydney property market has been one of the strongest and most consistent performers over the last four decdades with many location experiencing 24+% house price growth. Although the housing market has been showing a slowdown trend due to currently interests rate, A Grade homes and “investement grade” properties still in short supply for the prevailing strong demand. At the mean time, B Grade properties are taking longer to sell and informed buyers are avoiding C Grade properties.
While Sydney’s auction clearance rates this time last year were around 80%, they are currently holding around the high 50% to low 60s, which is moving from more of a seller’s market to a buyers’ market. More investors are getting into the Sydney market now recognising that there are no bargains to be found, but that in 12 months’ time the properties they purchase today will look like a bargain.
Last week’s Sydney auction clearance rate was 60%, which 2% lower than the previous week’s Sydney auction clearance. There were 586 properties listed for sale, 223 properties were sold, and 97 properties were withdrawn. Moreoever, the total clearance rate for state of New South Wale last week was 62%.
According to Realestate.com.au, it was reported 1284 private sales in New South Wales over last week.
(Data & Image from Domain.com.au)
Last Saturday Sydney Auction Top5 House
▼TOP 1. AUD$10,920,000
Address: 348 Victoria Pl, Drummoyne NSW 2047
Land Size: 809 sqm
House | 4 Bed | 4 Bath | 4 Parking
▼TOP 2. AUD$6,075,000
Address: 16 Dorking Rd, Cabarita NSW 2137
Land Size: 578 sqm
House | 4 Bed | 2 Bath | 4 Parking
▼TOP 3. AUD$5,199,000
Address: 20 Bareena St Strathfield 2135
Land Size: 626 sqm
Internal Area: 156 sqm
House | 5 Bed | 3 Bath | 2 Parking
▼TOP 4. AUD$3,840,000
Address: 18 Barry St, Clovelly NSW 2031
Land Size: 414 sqm
Internal Area: 122 sqm
House | 3 Bed | 1 Bath | 3 Parking
▼TOP 5. AUD$3,775,000
Address: 32 Stanton Rd, Haberfield NSW 2045
Land Size: 696 sqm
House | 5 Bed | 2 Bath | 3 Parking
Last Saturday Sydney Auction Top5 Unit
▼TOP 1. AUD$2,830,000
Address: 13/24 Birkley Rd, Manly NSW 2095
Unit | 3 Bed | 2 Bath | 2 Parking
▼TOP 2. AUD$2,205,000
Address: 36/7-15 Milray St, Lindfield NSW 2070
Unit | 3 Bed | 2 Bath | 2 Parking
▼TOP 3. AUD$2,165,000
Address: 9 Bent St, Lindfield NSW 2070
Townhouse | 4 Bed | 3 Bath | 2 Parking
▼TOP 4. AUD$2,100,000
Address: 10/140-144 Hastings Pde North Bondi 2026
Unit | 2 Bed | 1 Bath | 1 Parking
▼TOP 5. AUD$2,031,000
Address: 8/12 Stanley St, St Ives NSW 2075
Townhouse | 3 Bed | 2 Bath | 1 Parking
