The Sydney housing market continues to strengthen with April’s auction clearance rate of 65.4 percent, the third highest April result over the past 10 years, says domain.com.au.
Auction clearance rates show the growth of house prices and prove that the growth trend has continued to rise through the year. This 10 year high auction clearance rate show that there is increased buyer activity. Listing numbers however have remained relatively stable. This means that supply is lower than demand within the housing market. In Sydney, investors have been the main reason for an increase in demand since they account for half of buyer activity.
Furthermore, investors and mid-range upgraders are highly active in Sydney, however we see a subdued market within the first homebuyers and the prestige market.
Quick stats on the housing market in Sydney during the month of April
Auction clearance rate: 67%
Average days on market: 81 days
House: $673,000 increase of 4.2% from last year
Unit: $473,000 increase of 1.7% from last year
To experience the housing market first hand come on down to our auction on 5/16-20 Swete St Lidcombe 2141 at 11am.