The sales team report big numbers coming through open homes with around 15 to 20 groups through property inspections this week with keen buyers motivated and ready to go. Sales agent Vince Licata says, “We’re seeing more buyers come through open homes than usual for the time of year, perhaps as many who would normally be travelling overseas for winter are staying put. The overall sentiment is that there’s a lot of pent-up demand from buyers who missed out in the first half of the year and are ready to purchase. Although auction clearance rates are strong, this is because there’s limited stock available and premium A-Grade properties and family friendly apartments in key locations are selling quickly.”

We have a fair bit of stock ready to come to market soon and our advice to anyone looking to sell would be to list early, before the super-charged spring selling season, to attract a top result. Vince explains, “Sellers would be wise to take advantage of low supply on the market and the deep buyer pool that’s out there with many looking to secure a home now. With a relatively quiet market, your listing would be more visible to those buyers who are seriously house-hunting. Properties that are attracting the most interest currently are those that are in great locations or neighbourhoods. Investors are back too, recognising that although there are no absolute steals to be found as this is Sydney after all, in a year’s time the properties purchased now will seem like a bargain.”

Although borrowers had a reprieve this month when the RBA paused interest rate hike, economists are predicting two more rate increases before the end of the year. Our advice to buyers would be to check in with our finance partner, Shore Financial, for an updated valuation of your borrowing capacity and circumstances. If your income is secure and the time is right, now may be an ideal time to get a foothold in the market while others are hesitant. There’s certainly a window of opportunity now for buyers who take a long view to beat the pack. 

This week the sales team secured 4 sales with an average price of $1.7m and listed 8 new properties.