18_22 Greenoaks Avenue Darling Point Archives

Comment: Auction Results Sydney

CoreLogic's head of research, Tim Lawless, said housing markets had remained relatively resilient since the advent of the coronavirus pandemic.

"Record low interest rates, government support and loan repayment holidays for distressed borrowers have helped to insulate the housing market from a more significant downturn," he said. Federal and state government support programs, aimed at first time buyers, has cushioned the market.

Sydney house values dropped by 1 per cent in July to be down 2.4 per cent over the quarter. Despite the drop, Sydney values are still up by 13.2 per cent over the past year.

CoreLogic reports new listings are up 46 per cent from the recent lows of early May and With fiscal support set to taper from October, translating to an ideal time to purchase property.

The proportion of rental properties left sitting in Sydney is holding steady. Sydney’s vacancy rate has declined to 3.5 per cent, lower than the peak in April when it hit 4 per cent.

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