Sydney Market Bouncing Back

Real estate market bounces back

Sydney’s real estate market appears to have bounced back, with thousands of prospective buyers out looking for property. Over the previous months the auction clearance rates, which is a key indicator of the property market, has been achieving record highs. Typically over the last year the auction clearance rate has been around 50% mark however, the last 4-5 week period its increased and has been averaging 60%
Certain areas of Sydney have seen more interest, like the beachside suburbs and inner-city, however in general the market is moving. As always, the underlying factor in Sydney property is the supply and demand relationship. There remains a housing shortage of available properties for sale with an increasing amount of demand from local and overseas purchasers. Not defined as a boom however the market is firming on the back of more confident in the State economy and recent interest rate cuts.
For those seeking to buy, making sure they are prepared is essential: When investors are researching their purchaser it usually about ‘the numbers’, an investment has to tick-all-the-boxes with the right location, solid rental prospects and purchased at, or below market value. Although it shouldn’t, emotion always plays a part in any purchase; most purchasers have a clear idea of what they are seeking from an investment and therefore have a focused approach to property investment.

Currently on offer with The Oaks Property Sales is a selection of properties that meet the most discerning purchasers investment criteria. For complete details contact sales office.