Market Update - 21 July 2023

From 716 auctions (3% more than the previous week) scheduled in Sydney last week the auction clearance rate (SQM Research) was 54.2%, the same as last week. 

Locally, across the 2037, 2038, 2040, 2050, 2048, 2049 postcodes, there were 19 auctions scheduled (25% less than last week) and the overall clearance rate was 79%, with a 53% selling prior to auction, the same sold prior % as last week.

And the revised, revised, revised interest rate forecasts?  Evlin DuBose, Money writer at Mozo wrote on July 18 “At the time of writing, CBA has projected the RBA will hike once more for the cycle, leaving the cash rate at 4.35% in August. Westpac has revised its forecasts by pencilling in two more rate hikes for August and September, putting the final cash rate at 4.60%. NAB similar estimates 4.60% by September. ANZ says there is now enough evidence to warrant an extended pause at 4.10% until the end of the year, making it the most dovish of the bunch.”

New to the market is the stunning 2 bedroom, 2 bathroom home at 16 Ferris St in Annandale. Click here to find out more or to schedule an inspection.

Some kind words from a vendor:
Simon is an excellent agent. We found him to be knowledgeable, honest and reliable. His communication with us was great and he was always available when we had questions. We would definitely recommend Simon and his team.