Winter market report

Sydney continues steady growth over the colder months

The winter months are typically considered to be the ‘slower’ real estate months of the year as buyers and sellers hibernate from the cold weather. However, in 2016 this was not the case, especially in the Eastern Suburbs where we noticed a surprising amount of activity in the market from both buyers and sellers alike.

This activity can be attributed to investors and home buyers taking advantage of record low interest rates and savvy sellers noticing a strong demand for property ahead of the usual influx of stock during spring.

Due to this demand and buyer competition, home values in the area have continued to make positive gains as sellers are achieving premium prices on their houses and units.

What are your market expectations heading into spring of 2016?

Will the Sydney property market growth continue?

With property stock levels quite low at the moment, as we head into spring we expect to see an increase of properties hitting the market, however, not at the dramatic levels that we have seen in previous years. We have clients that are currently preparing their homes so that they are ready to hit the ground running during the warmer months and some even prepping for sale in the new year.

This expected increase in stock will offer home buyers and investors more choice, but will certainly not outdo their demand. This in conjunction with our prediction that interest rates will remain at their current record low levels through spring, points to continued rolling growth of the Sydney property market.

Indeed, until we see a significant shift in the number of properties for sale, interest rate levels or other contributing economic factors, we believe that the property market will continue along its current growth path.

MarketReportCraig&Kiki

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Craig Sewell
Craig Sewell is the Foundation Director for Mint360 Property a leading real estate firm based in Sydney’s exclusive Eastern Suburbs. He holds the record for selling the most expensive house in Maroubra for $8 million and has sold shopping centres for up to $15 million. Craig’s most important connection is to his family and the community they live in. That’s why, when he is not selling property, you will see Craig and his four children getting involved in local life – he is a strong believer in the development & education of children giving time and money to Coogee Public School P&C Surf, Coogee Minnows Junior Surf Lifesaving Club, Coogee Rugby Club (The Seahorses) or simply enjoying the fabulous beach-side lifestyle on offer in Sydney’s Eastern Suburbs.
Craig Sewell

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17th October 2016

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Craig Sewell

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