Another weekend of back-burning on the Upper North Shore, chilled mornings and busy open homes. It was a weekend much like the one before and much like the year before, buyers are looking to buy and by the look of the Auction clearance rates, they’re buying!
I don’t have numbers on open homes across the whole of Sydney but from what I hear they are improving. From conversations I have had with top-listing agents Hudson McHugh, in Leichhardt, where listings and sales were down – for the area – at the start of the year, the backlog of buyers may begin to see some service by way of ‘stock’. With reports that this weekend just gone has seen the ‘best weekend yet’ [of the year].
Listings in the Lower North Shore are seeing sustained levels of interest, from all reports, and the market seems to have re-appeared in Sydney’s Eastern Suburbs also.
In saying this, the ‘Hills District’, which has become a desirable location for families with better access to amenities and great affordability has seen some solid sustained results also.
The Auction results across Sydney at the weekend were sturdy at 80% on most reported sites. With 506 Auctions originally scheduled for the weekend 363 were live and 27 withdrawn for whatever reason.
The median sale price for property at Auctions was $1,120,000
Monday morning has seen fresh allegations of ‘rate fixing’ or behaviors among the financial elite that may have led to certain subsequent rate adjustments, for those who understand the way rate cuts are predicted.
This just adds to the stormy atmosphere when innocent homebuyers are finding it increasingly difficult to speculate on house prices, interest rates and government policy.
I’d say stick to the basics; find a home you love, can afford and can add value to in the future.
Brrrrr…..
Thomas Merriman.
Thomas Merriman 