Market Update - 24 August 2023

There were 981 auctions scheduled in Sydney last week, the highest number since early April and the auction clearance rate (SQM Research) was 56.2% which is an 8-week high. Of the 981 scheduled auctions, 771 were on Saturday, leaving Sydney buying opportunities a long way short of a Super Saturday (1,000 auctions +) which we last had in May 2022!

Locally, across the 2037, 2038, 2040, 2050, 2048, 2049 postcodes, there were 26 auctions scheduled and the overall clearance rate was 69%, with 50% selling prior.

At long last we’re about to see an increase in supply levels with at least six new listings coming to market with our team before the end of September, ranging from $1.5m to around $5m, with pretty much every price point represented in between. Based on this surge of listings from our office and others across Sydney, we’re likely to see at least one Super Saturday on the way in September so if you’re in buying mode, prepare to get on your starting blocks, I know it’s’ been a long wait!

Some kind words from a Vendor:

Simon sold me my house and when I thought of selling Simon was the 1st and only option. Simply his and his team's honestly, professionalism, market knowledge and approach to selling is at a high standard the rest cannot offer. Thanks Simon, you made it so easy to deal with you on such a big occasion.