With the busy Autumn selling season having reached its crescendo ahead of an extended Easter/Anzac Day break it is apparent that Sydney buyers are as keen on property as ever. The first two Saturdays in April provided 843 and 1118 auctions respectively (the largest two consecutive weekend’s ever recorded). The reported auctions gave clearance rates of 81% and 78%. Given the large number of listed properties this clearance rate is extremely strong and indicates that buyers are still intent to enter the market. While some sellers are entertaining unrealistic expectations IPS has noticed that most properties are well and truly exceeding vendor expectations, making it a distinct sellers’ market. However, it is as difficult as ever to predict what may come following the Easter break. There is the possibility that a lack of stock (with so many properties already sold) prices will remain high as buyers are limited by choice. Alternatively, a break in the momentum may present a window for buyers to buy outside of a heated market. In each case IPS plans on keeping you up to date with how the Sydney market responds.

Follow: Subscribe to this post's comments