Sydney recently recorded its biggest auction clearance rate in over 18 months on September 17 at 85.1 %, according to statistics provided by Australian Property Monitors.
Now, this is absolutely fascinating, because, in a market which most experts have predicted to falter in 2016, many players in the market decided to sit back and watch as everything unfolds around them in hope that the market would return to ‘normal’ and that prices would drop. More out of hope which we know is not the best strategy in any play book.
We saw incredible market strength through Autumn and Winter in 2016 and naturally, expected a surge of properties to come onto the market through Spring to capitalise on the shortage of quality stock across Sydney. But that hasn’t happened.
Residential sales listings continue to remain at low levels compared to what we have traditionally expected for this time of year. Vendors continue to remain nervous about the prospect of the market losing its momentum or the possibility of an over supply vs the current demand.
The evidence of the above auction clearance rate recorded is all the evidence you need to see to understand that the market is solid and as strong as ever.
So the question begs, are you going to sit and watch from the sidelines while everything unfolds ? or will you get yourself into a position to take advantage of the current market with the right game plan and strategy, which we would be delighted to assist with.
Get in touch now before it may be too late.