2A_9 St Marks Road Darling Point Archives

Comment: Auction Results Sydney

- New Data reveals property prices across Australia have remained relatively stable throughout COVID-19, and that some suburbs have weathered the storm better than others. Bondi Beach is up 7.1%, where as Grays Point is down 5.6% The Ryde area continues to be a sought after area up 11.5%. Suburbs that were located further away from the city or key transport infrastructure were the most exposed to the bleak economic conditions.

- Across the regional areas, the weaker performing markets tend to be non-coastal and often based in agricultural regions where economic conditions have often been tougher due to the drought and bush fires.

- Unit rentals experienced the biggest price drop in more than 15 years in Sydney with rentals down 3.8%. However, house rentals have remained steady with no change, reflecting higher demand for freestanding properties.

- Homes are selling faster now than this time last year, due to fewer listings and more serious buyers out looking. On average a Sydney house took 69 days, compared to 87 days last year.

- The best performing inner city suburb over the last 10 years for houses was Rosebery rising 9.3 per cent annually from $742,500 to $1.8 million. Kurraba Point had Sydney’s best apartment growth, with dwellings increasing from $663,000 to $1.522 million.

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.