Wednesday, 21 September 2016

High auction clearance rates spell a strong property market this Spring!

The Sydney property market ‘boom’ wrapped up earlier this year leaving buyers and sellers alike wondering what was in store for their local marketplace. 12 months on from the peak of the boom, the market remains strong and competitive as shown through the 80% auction clearance rate achieved in Sydney over the weekend.

Smashing the clearance rate from this time last year by 6.9%, the auction clearance rate has jumped to it’s highest in 14 months. Driven by low borrowing costs and a low level of properties available on the market, this is great news for owners looking to sell.

With a competitive spring market expected, now is the perfect time to consider selling your property. As the weather warms up we have seen greater numbers of quality buyers at open homes, cashed up with finance aided by the historically-low 1.5% interest rate and ready to purchase your home!

There is no indication the growth in auction clearance rates across Sydney will stall with the RBA now looking to APRA for regulator controls on investor finance to manage the growth.

If you would like obligation-free advice on the local market place and the value of your home please contact our office today. We’d love to help you!