Sydney’s property market has experienced a rapid rebound, marking the fastest growth in house values since late 2021. Following a dip in December of the previous year, house prices in Sydney have risen by 5.3% in the June quarter.
The revival of property prices can be attributed to a mismatch between supply and demand, even as the Reserve Bank raised borrowing costs. Despite the central bank’s cash rate hikes in May and June, the expected decline in home values did not materialise.
While it is uncertain whether the current upswing in house prices will continue, mortgage rates may not have much room to rise further. Sydney’s quarterly increase, which was close to twice the historical average advance of 2.8%, may start to test affordability limits, with the Reserve Bank keeping the cash rate on hold for a second month in a row. The recent increase in interest rates, the fastest in over three decades, has contributed to the rise in property listings.
The persistent price rebound and auction clearance rates remaining above 70% indicate the possibility of a “Spring rush” in sales. In the last month, we have noticed an increase of properties coming on the market and owners signing up with us to sell this Spring.
Thinking of selling? Contact our team to connect with active buyers who are ready to purchase. For those still searching for their dream property, be sure to discuss your requirements with our sales team to stay informed about any upcoming or off-market opportunities.
CURRENT LISTINGS
Luxurious resort-style living in a coveted location
2B/26 Ross Street WAVERTON
Sunlit apartment in quiet and convenient location
5/20 Rocklands Road WOLLSTONECRAFT
Private garden entertainer a 5-minute stroll to Crows Nest
19/2 Lamont Street WOLLSTONECRAFT
Modern apartment of light, peace and convenience
205/40 King Street WAVERTON
Quiet studio apartment in the heart of North Sydney
4/2-4 Berry Street NORTH SYDNEY
Brand new top floor living with two balconies and Bridge views
10/6 Belmont Ave WOLLSTONECRAFT – view
Rare opportunity – Brand new renovation – 1 & 2 Bedroom apartments
23 Gillies Street, WOLLSTONECRAFT
Resort-inspired haven ‘The Landmark Quarter’, immersed in Harbourside greenery
8 Marshall Avenue ST LEONARDS
Urban oasis, brand new ‘Sierra’ apartments
84-90 Atchison Street CROWS NEST
Brand new luxury 2 & 3 bedroom residences, suited to downsizers
2 Greenwich Road GREENWICH N
Contact Us
Our team is available and very happy to provide advice with any selling, purchasing and rental requirements you may have. Feel welcome to reach out if we can be of assistance. Our offices are conveniently located at 38 Willoughby Road, Crows Nest. We look forward to hearing from you.