Well into winter and Sydney’s property market is running hot with keen buyers. New property listings are down in Sydney this June at 6684, compared to 9166 in June 2010. Fewer properties on the market combined with increased rents has sparked competition amongst buyers.
At Richard Matthews Real Estate (RMRE) enquiry levels are at an all time high and foot traffic at inspections is up. The company’s database is filling up with buyers eager to enter the local market.
This past weekend RMRE sold a three bedroom, one bathroom fibro house at 39 Shellcote Road, Greenacre over the reserve price at $546,000. The auction attracted a large crowd with seven spirited bidders competing for the property.
Of all the capital cities Sydney had the strongest auction clearance rate this past weekend at 76.3 per cent, up from 66 per cent the previous week, which was a long weekend. The average auction rates for the combined capital cities have been trending upwards since December last year.
To discuss your individual property needs chat with real estate experts Richard Baini and Matthew Everingham. You can apply online or call 9642 4288. Richard Matthews Real Estate aims to make every client a client for life through unrivaled service and outstanding results.
All figures sourced from RP Data