With the year in full swing already and Sydney’s weather starting to cool, the temperature is quite the opposite for the property market, especially along Sydney’s Northern Beaches.
2021 has already seen a rapidly growing property market right across the country, with no signs of slowing, let’s explore what that means for people looking to sell and how to get the best result.
The Sydney property market found new strength emerging from COVID
Low interest rates and increasing household wealth, together with a short supply of properties on the market and high buyer demand have all come together to produce the phenomenal sales prices we’re seeing today in our region.
Although Sydney’s housing values were on the lower side toward the end of 2020, we’re now at a record high, with housing value soaring to 5.7% higher when compared to over 6 months ago. This trend means that residential figures are rising far above that of the average Australian income.
CoreLogic’s Quarterly Auction Market Review released in April showed that Australia’s combined capital cities clearance rate reached 80% over the first quarter of 2021, up from 69.4% in the December 2020 quarter and 62.5% in the March quarter of 2020.
Sydney has clearly led the way for capital gains in March, with values surging 3.7% over the month and 6.7% higher over the first quarter of the year.
Sydney Northern Beaches market snapshot
With our focus on Sydney’s Northern Beaches, we’ve witnessed these strong results first-hand over the last few weeks, and we’re seeing no signs of this slowing any time soon.
In fact, March 2021 saw a new monthly record for us at Upstate.
With over 15,000 email enquiries, we sold a record of 73 properties and leased 50 properties.
Here are some of our Quarter 1 results, from January to March 2021, to give you an indication of the market’s strength right now.
Have you been thinking of selling?
With results like this, it’s an excellent time to take full advantage of the market, together with our experience and expertise.
Our Upstate real estate specialists make buying and selling Northern Beaches property easy. That’s because we’re a big agency that acts like a boutique one. Our personalised service will help you get the most out of your property.
Speak to your local Upstate team today and we’ll show you the possibilities that are earning excellent results.
We look forward to chatting with you soon.
Your local Upstate team