An autumn of exceptionally temperate weather and Sydney-perfect sunny days are seeing consistently strong auction results over March and they show no signs of abating.
Autumn is often the wind-down before the slower winter months arrive however the Sydney property market appears to be making the most of the sunshine and auction results are above expectation with a good selection of properties on the market and high clearance rates
Blue-chip suburbs such as Mosman on the North Shore, and Paddington in the east have both maintained clearance rates above 80% for the last two weekends.
Vendors debating whether to sell now or wait out the winter and go for the typically strong spring market could look to a quick autumn sale in the next few weeks as a viable option.
Economically the indicators are good. The RBA has kept interest rates at a steady 2.5 per cent which lends confidence to buyers and keeps interest in sales high.
The unemployment rate has also affected the property market. The Australian Bureau of Statistics says that NSW currently has the lowest jobless rate of any state. This has seen a greater number of first home-buyers stepping into the market and helping to buoy prices and keep clearance rates above 80% in a lot of areas.
The RBA’s consistent and low interest rate is making property investment a popular choice for those with investment portfolios – combined with the high demand for rental properties,
The approaching winter months are also a motivation for both buyers and sellers to finalise deals before the market cools.
If you are considering buying or selling over the coming months, a buyers agent can assist you in finding a suitable property at the right price, even in a strong market such as the current one.