Auction Results Sydney 11 June 2022

Buyers face reduced borrowing power and higher mortgage repayments due to the RBA’s decision to raise rates by 0.5 per cent to 0.85 per cent. Rising rates have already started to flow through to the market quickly as it is capping the borrowing capacity of buyers.

The cash rate is tipped to be around 2.35 per cent by the middle of next year, which could see Sydney property prices drop around 10 per cent. We are not expecting an oversupply of properties from forced sales, due to the substantial equity most Sydneysiders have.

Furthermore, the number of freestanding properties in sought after areas for sale are expected to fall quite a lot as vendors become reluctant to sell in a cooling market.

Gareth Aird, head of Australian economics at Commonwealth Bank, said prices falls could be short-lived. With economic momentum expected to slow significantly, a rate cut could be on the cards by late 2023.

Using a Buyer’s Agent: At TBAS®, we offer comprehensive end-to-end support – from identifying and analysing potential properties to dealing with agents, attending inspections, bidding at auction and negotiating a sale on your behalf. We take the time to understand your timeline, budget and exactly what you’re looking for, then create a tailored strategy to get you into your dream home, fast.

Disclaimer: Not all Properties were bought or sold by TBAS® Buyers Agents. The Auction Results Sydney are compiled for research purposes to assist our valued clients in making educated decisions when purchasing proper