As housing is considered essential, we are very grateful to have been able to continue to help our clients with their property needs safely throughout the July lockdown. Although the process changed, our commitment to our customers remained the same and market sentiment has remained positive.
Our agents have been busy conducting private one-on-one and virtual inspections, our auctions have moved online, and our team are working remotely. The Upper North Shore property market has remained incredibly resilient throughout the current lockdown period, and we’ve managed to continue to secure exceptional prices and sell 51 properties.
Across Sydney, since the start of the lockdown, average registered bidders have jumped 25 per cent higher, which shows that buyers have embraced online auctions despite the restrictions. Our agents are also finding that the buyers they are meeting right now are very keen and serious about buying, and the market’s energy is still good. Informed sellers know that now is an excellent opportunity to sell as the competition is light with stock low, but buyers interest remains high.
Conditions in the rental market have also remained positive, with 28 properties leased by our team in July. Investors are returning, and days on market for houses have reduced yet again due to heightened demand. We have also seen returns stabilise in the unit space as demand is slowly but surely catching up to long-standing oversupply volumes.
Our sales and property management teams are well versed and skilled to transact any sale or leasing requirement. Whilst our offices are physically closed, our staff are hard at work remotely, and our lines of communication remain open for business.
Please don’t hesitate to contact us if we can assist you with any property requirements you have.
The Reserve Bank has left the cash rate unchanged, choosing to wait for further evidence on whether the interest rate increases already delivered are bringing inflation under control. Annual inflation eased from 4.0 per cent in May to 3.8 per cent in June, while prices fell by 0.1 per cent over the month. However, much … […]
Higher interest rates are meant to bring inflation down. They also make new housing more expensive to build. The two largest policy forces acting on housing right now are pulling against each other. Importantly, established house prices are not included in the CPI. Housing inflation is instead driven by costs including rents, new dwelling construction … […]