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Sales Soar

Market Insights
9 years ago
1 minutes

It is, and always will be, a buyer’s market. Prices for homes will be dictated by the supply and demand of the public. So, with recent data, and specifically to off-the-plan investment buyers, the latest facts show that Sydney is on a steady rise, fast similar to the boom in Melbourne in 2006. 

Auctioneers within the central suburbs of Sydney have upped their home-sales by over 4000 compared to last year. The flood of listings over the course of November, for both Melbourne and Sydney, has not only helped house price growth, but also clearance rates. 

This weekend, the momentum of Sydney’s market will be under prying eyes as over a thousand homes are set to be auctioned. It is believed that this weekend will challenge Sydney’s best of the year, the weekend before Easter Saturday. 

Off-the-plan markets are also selling fast. Well-made, luxury apartments are selling themselves, and supports the idea that buyers will spend for the right property. The $250m Sydney by Crown development on Clarence St sold out on the first day. Local buyers accompanied investors from Singapore and Jakarta to secure all the apartments. Reportedly, 95% of the off-the-plan residence was sold in the first 4 hours. With the Crown Group totalling sales of over $173m, approximately $73m above estimated sale prices, it is fair to say that great and well-built new apartments are still soaring in demand.