Spring selling season is presenting great opportunities for buyers and sellers.
Here are some of the trends I’m seeing in Sydney’s Eastern Suburbs property market right now around the coast and parkside.
While the Sydney wide auction clearance rate is hovering just shy of 60%, I am pleased to report the auction clearance rate for The Agency over the weekend was 92%, which was 34% above the industry average. We also had the highest auction sale in Australia on Saturday selling 173 Underwood Street, Paddington for $6,050,000 on 8 September.
Spring has sprung
September has arrived and we have officially entered 2018 spring selling season. In the East we have returned back to a normal market and this is reflective with the number of properties coming to the market. For example, 213 Carrington Road, Coogee is a fabulous family home on a substantial 373 sqm and moments to the cafes and beach.
The benefits of private appointments for buyers and sellers
We’ve also noticed an increasing trend for private open home inspections. The power of a one-on-one private appointment is very compelling for both the buyer and the seller. While it sounds daunting to live in a constant state of readiness through an auction campaign, the preparation and flexibility can really pay off for sellers who are open to this approach.
Buyers have a whole property to themselves at a time when it suits them, and time to make an unhurried decision. Private viewings can create a good emotional connection, and buyers can really digest the property, talk to the agent and work out any problems before making an offer.
I recently sold two fabulous heritage properties not far away from each other. 49 Edgecliff Road Woollahra sold for $2.5 million – a home with so much potential, already boasting a perfect aspect, harbour bridge views, character plus off-street parking. And 63 Cameron Street Edgecliff – a unique home oozing with charm and stories, tucked away in a gem of a location sold for $1.4 million.
All in all, it’s a very good time to buy in Sydney’s east.
If you’re interested in buying or selling in Sydney’s eastern suburbs contact me today.