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Comment: Auction Results Sydney

Sydney house prices have fallen 2 per cent over the past three months. Experts say the overall impact of COVID-19 on Sydney’s property market has been fairly minimal so far.

Commonwealth Bank Gareth Aird said price falls were milder than expected given the extreme amount of economic uncertainty. Mortgage deferrals, low interest rates and government support payments had prevented distressed sales. Furthermore, sales are preforming better than rentals, because tenants were generally more likely to be in casual employment in hard-hit industries like hospitality and tourism.

The affluent region of the eastern suburbs of Sydney is the only area where demand from locals still outnumbers interest from out-of-area buyers, according to Domain data. Local demand still reigns supreme where existing residents want to stay put – and high property prices limit newcomers to the neighbourhood.

Using a Buyer's Agent: A Buyer's Agent can act as a 'middleman' at a time when house hunting has become more difficult. A Buyer's Agent can help by providing a shortlist of properties and arrange private viewings.

Auctions have resumed Onsite. If you are planning on bidding , it is important you have a proven auction strategy and get professional advice.

TBAS® Buyers Agents are continuing to inspect, bid at auction Online and Onsite to purchase properties for their clients. For more details contact us.