The property market is offering further signs of resilience, according to both anecdotal evidence from real estate agents and Loan Market mortgage brokers in Sydney.
Particularly in Sydney, agents and brokers are reporting strong interest in the median home market covering the $700,000 to $1.2 million price range, a target price of many who have sold existing properties to first home buyers during the recent strong sales to this group.
The Boost to the First Home Owners Grant has been cited as one reason for the strong interest, along with low interest rates, with many properties selling before auction and indeed even before the first scheduled open home.
For those properties that do make it to auction, clearance rates at auctions in Sydney and Melbourne are at more than 70 per cent, according to recent data from Australian Property Monitors, an excellent result in any market.
Many analysts have suggested that the Sydney property market would be the first to recover so keep an eye on these results to see if the strong trend continues.
Mortgage Brokers in Sydney CBD
Mortgage Brokers in North Sydney
- Ali Facer
- Andrew Watson
- Michael Roberts
- Nicole Allan
- Sandra Crossland
- Sharon Clarkson
- Tony Barkhazen
- Tony Tong
Source: news.com.au; Mortgage Business
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