The year has commenced with better than expected interest in both buying and selling property, according to Di Jones Real Estate.
“We have already seen solid demand for property across the markets, in particular the North Shore, Northern Suburbs and Eastern Suburbs of Sydney, and there is a 20 per cent rise in the number of auctions booked for February,” Di Jones head auctioneer Josh Larsen said.
“Stock levels are better than last year, and there are lots of buyers who have decided that 2018 is the year to purchase a property.”
He said that there is “keen interest” from first home buyers in particular.
“They had decided to hold off until this year, having seen the auction clearance rates fall away towards the end of last year.”
Mr Larsen said that Sydney has its own unique conditions.
“There is strong interest in properties that are $3 million and above on the upper north shore. It is a market that softened in 2017 and there has been some good enquiry in regard to the top end prices.
“Meanwhile, in the eastern suburbs, we saw over 80 groups of people go through a two-bedroom apartment in Randwick that exchanged prior to auction.”
He said that good-quality homes that are at the right price point will always see a strong level of interest.
“While last year was strong, we fell into a normal market in the second half and the number of buyers dropped off.
“But good prices were still achieved especially due to the aggressive nature of the purchasers.”
Di Jones services Sydney’s eastern suburbs and inner west markets with its flagship Woollahra office, as well as Sydney’s north shore with its Wahroonga office, Beecroft and Thornleigh in the northern suburbs and Bowral in the southern highlands.