With only a month left before Christmas it’s a good time to look back on the past few months and what’s to come in the Sydney property market. Since our last update in July we have seen the market shift to being a buyers market. Clearance rates this week are sitting around 42% according to SQM Research highlighting the shift.

Days on market have increased as vendors are needing to be patient or lower their expectations when selling. It provides an incredible opportunity for buyers to take advantage of the subdued buying conditions over the coming months.

In all areas of Sydney, we are seeing that the market is split up into 2x tiers.

There’s premium A grade properties, that are priced fairly which have demand and are selling strongly. There is limited supply in this tier of property.

Investor grade stock or properties that have flaws make up the majority of the supply in the market. These properties can also be priced too high on occasion. The reason for these types of homes making up the majority of the market are: building costs/timeframes, interest rates, cost of living

4x Recent Purchases

In 2025, expect the property market to start early in January with a large number of buyers and sellers ready to launch in the new year. Scheduling wise it will be a disruptive first half of the year with Easter in April and the Federal Election occuring around May. Historically these are periods of low volume & sales.

Our advice for those planning on buying or selling is to be active in the early part of 2025 to avoid having their property plans delayed until the mid point of the year.

Most economists are forecasting the first rate cut in February 2025. With Australia’s big 4 banks predicting up to 4x rate cuts next year, this would be a material change in borrowing capacity for homebuyers and will further fuel property prices for 2025.

If you want to have a chat about the current market or your property plans get in contact with us today.