Selling season starts early
Wednesday 01 Feb 2017
We certainly live in interesting times and the year ahead for the Sydney residential property market looks very interesting indeed. On the back of a challenging 2016 this year has already started with a bang bigger than the fireworks on new years eve. Finally vendors are bringing their properties to market.
As I said repeatedly last year the dominating factor across 2016 for residential property market was lack of supply. Regardless of continued evidence of strong demand and strong results potential vendors didn’t list. It was a frustrating season for our team and for prospective buyers. Thankfully towards the end of the year there was evidence of a change in attitude so our last quarter for 2016 was hectic with spectacular results achieved for vendors.
And the new year seems to have delivered potential vendors a renewed sense of confidence and purpose. We have an unprecedented number of listings for this time of the year coming online across all price brackets and in all precincts.
There is always a build-up of momentum as the much-anticipated Autumn selling season approaches but we are still four weeks away from the official start of Autumn and the selling has definitely already begun in earnest. Our team had it’s the biggest January record for listings, with 12 x properties already set to go under the hammer in February alone.
It demonstrates the market is buoyant and importantly it also shows there is capacity to absorb an influx of new properties and still deliver good results for vendors. I anticipate another influx of listings timed to hit the market in late March given Easter is mid-April this year so we are off to a good start and it is looking like it will continue.