Tag Archives: Buying


Super Saturday!


Click here to read the full article by Domain regarding 32 Lindsay Street, Burwood

Last Saturday brought the idea of a bumper Sydney Saturday to a new level. With approximately 940 homes being offered up for Auction, including our very own 32 Lindsay Street, Burwood which sold for $1,425,000 and 5 Edward Street, Strathfield South which sold prior to Auction for $1,300,000. The demand is still there for these quality homes with the clearance rate of 82% across Sydney and a massive 91% in the inner west.

Check us out in the below story by Channel 7 news and hear the stats for yourself:



Watch our team in action with this flick of Saturday’s auction at 137 Edwin Street North, Croydon – sold under the hammer for a sensational $2.51 million, smashing the reserve by $330k!

Post-auction we sat down with our elated vendor Catherine, who gave a video testimonial.

Selling? Buying? Renting? Contact Strathfield’s Most Recommended Agents @ richardmatthews.com.au

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Buyers Spring into Auction Action

26 Scott St Croydon

BANG! ANOTHER SOLD AT AUCTION!      26 Scott Street, Croydon

Published Monday November 18, 2013

Sydney’s auctions are running hot this spring with the latest clearance rate another strong result at 80.6%.*  Richard Matthews has had an Auction Timetable jammed with vendors keen to take advantage of these eager buyers.  Properties have been so popular many have been snapped up prior to auction, such as the unit at 48/8 Wallace St, Blacktown, which sold the day before the scheduled auction.  The team has sold numerous units in this block, three in the space of just two weeks.  Then on Saturday the team set a new record price for the block with the auction sale of unit 50 for $345,000.

Richard Matthews have been successfully selling property across the whole of Sydney.  The suburb of Croydon has been bustling with activity.  On November 2nd the team sold a two bedroom, one bathroom apartment at 7/148 Edwin St North for $593,500 eclipsing the reserve price by $33,500.  5 Badminton Road sold prior to auction for a massive $1,510,000.  Most recently a modest three bedroom, one bathroom bungalow at 26 Scott Street sold at auction for $1,051,000.

Demand for quality property is high in this seller’s market.  This could be your optimum time to sell.  If would like to know what your property could be worth, or would like exclusive news on properties about to hit the market contact Richard Matthews Real Estate online or on 9642 4288.  Directors Richard Baini and Matthew Everingham are your friendly property experts who love to give their clients the attention and result they deserve.

*Figure source: Australian Property Monitors, Dr Andrew Wilson, November 16, 2013.

The sky’s the limit: why selling at auction works

SOLD PRIOR TO AUCTION! 14/98a St Georges Cres, Drummoyne

SOLD PRIOR TO AUCTION! 14/98a St Georges Crescent, Drummoyne

When meeting a client for the first time we are often asked ‘how should I sell?’ and although every client’s situation and property is unique, an auction does have key advantages over a private treaty campaign.

Firstly, unlike a private treaty sale an auction has a ‘sale date’ which creates an instant sense of urgency.  Sometimes the pressure of the looming auction date encourages a buyer to purchase the property prior to auction, often for more than anticipated.  The recent sale of an apartment at 14/98a St Georges Crescent, Drummoyne by Richard Matthews Real Estate for $910,000 was well above the vendor’s expectations.

Competition amongst Sydney buyers is fierce right now with auction results often exceeding reserve prices.  Sydney’s latest auction clearance rate on July 13 was a stellar 81%.  Over the first quarter of this year the proportion of sales by auction across Sydney was 16.1%, a considerable improvement from 13.4% in 2012.

Private treaty sales are perceived as safe, with a set price that is often printed in the advertising.  Yet if it had gone to auction there is always a chance your property could have sold for higher than expected, but you will never know.  In contrast, when a property goes to auction the sky is the limit.  The reserve price is a safety net ensuring your property won’t be sold until a minimum is reached.  If you sold at auction now, with the current market conditions and a crowd filled with keen bidders, you could be very surprised by the sale price.

Want to learn more about auctions, your property and sales performance in your local area?  Contact real estate experts Richard and Matthew today at Richard Matthews Real Estate – apply online or call 9642 4288.

Figures from RP Data.

Sydney’s property market running hot


Fibro Greenacre house sold for $546k

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

Competition increasing amongst Sydney buyers

Considering selling? Now could be the time.  Sydney buyers are actively searching for property, with competition fierce amongst investors and owner-occupiers.  Stock has fallen across the nation with Sydney experiencing the greatest drop in new listings by 10.2% compared to the same period last year, and the total number of listings dropped by 13%* (RP Data, as at June 2, 2013).

If you are selling auction could be the way to go, especially with Sydney’s clearance rates continuing to boom, reaching 80.3% (RP Data, as at June 2, 2013).  Some properties aren’t making it to auction, for example on June 6 Richard Matthews Real Estate sold 228 Concord Road, Concord West prior to auction.

228 Concord Rd, Concord West

SOLD PRIOR TO AUCTION! 228 Concord Rd, Concord West

Properties sold by private treaty are spending less time on the market.  Sydney units are taking an average of 34 days to sell and houses just 35 days.  This is a big drop compared to week ending March 3, 2013 which revealed houses in Sydney took an average of 66 days and units 49 days.**

To make your next move contact local property experts Richard Baini and Matthew Everingham on 9642 4288 for a free market appraisal and tailored advice, they would love the opportunity to assist.

*A new listing is one which has not been advertised for sale over the past 6 months, total listings include new listings and properties which have been previously advertised.

** Time on market is the average number of days between when a property is first listed for sale and the contract date.

Sydney’s rental rates on the rise

Sydney landlords should take note of the falling vacancy rates working in their favour.  According to the REINSW Vacancy Rate Survey (April 2013), Sydney’s vacancy rates have fallen for the third month in a row to the lowest levels in a year, with Sydney’s inner, middle and outer suburbs all declining by 0.1 per cent.

The drop in vacancies is driving rental rates higher.  Sydney is the third most expensive city in Australia for renters, with Darwin and Canberra leading the way.  Rental properties in Sydney are commanding as much as $100 a week more than properties in Melbourne.  Sydney houses are fetching a median weekly rate of $470 with units not far behind at $440, as reported by RP Data.

If you have an investment property and would like to maximise your return contact Sydney’s hardest working agents at Richard Matthews Real Estate.  Their obligation free lease appraisal and friendly, expert advice is invaluable.  To kick start the process call the team today on 9642 4288 or simply apply online.