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top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
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Summer market not so hot

By Staff Reporter
16 December 2009 | 1 minute read

Despite strong property activity over the last few months, the market is expected to cool down over Christmas before taking off again in 2010.

Over the past six months, Sydney auctions have performed well, particularly in the inner west where clearance rates have been consistently above 70 per cent.

Associate director and property consultant at Elders’ Inner West, Sam Bonaccorso, told Real Estate Business that his branch was responsible for 27 auctions in the last two weeks alone.

“We have had a huge number of auctions recently and achieved very high clearance rates as well,” Mr Bonaccorso said.

But despite the run of strong activity, Mr Bonaccorso said the market would cool down over the next two weeks before swinging upwards again in the second or third week of January.

Angelo Tesoriero of LJ Hooker Real Estate Bondi Beach agreed that Christmas was generally a quiet period for agents.

“It is a general rule that most people are on holidays. The market picks up pace in the New Year as buyers have time to plan their purchases and organise their finances,” Mr Tesoriero told Real Estate Business.

“People will rarely walk in and buy a place straight off the bat just because they are on a holiday.”

Summer market not so hot
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Do you have an industry update?

top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.