Ewan's Blog

Could it be Summer?

Wednesday 15 Jul 2015

The chilly arctic blast is a timely reminder. With the television and newspapers filled with coverage of cricket, tennis and cycling. With commentators discussing strong demand and solid auction clearance rates you would be forgiven for thinking it might be Summer!

But then you walk outside over the last few days and the icy wind will quite literally hit you in the face as a reminder that it is Winter, which is supposedly the 'quiet time' for the Sydney property market.

I can assure you it has been a long way from quiet over the last few weeks.

I have said previously that the tradition of a Winter slowdown in market activity has actually been cooling off over recent years. This year is proving that to again be true as buyers are certainly much more inclined to maintain their hunt for the perfect property over Winter. Indeed I am still a little surprised that vendors remain reluctant to seize the opportunity of that sustained demand to secure a sale.

You have to admit that things are actually looking pretty good when we can talk about the market 'easing' to an auction clearance rate 'down to 8o%' on the last weekend of the school holidays in July! To achieve such a great result on a freezing wet weekend is a testament to the strength of demand.

Of course there can be many individual and personal reasons for not selling now, but if you are a potential vendor holding off based on a view that it is better to sell in Spring, then I challenge you to reconsider.

Rather than allow the cold weather outside to depress you and impact your view of the market, take inspiration from the scenes of Summer you can see on television as you watch the Tour de France or hopefully the Aussies turn it around in the next Ashes test.

I think you will find the local property market is as warm as the temperature was on centre court at Wimbledon on Monday!