Sydney Auction Metrics 29/4/23

There are 570 auctions scheduled across Sydney for the coming week (down 6 from the previous week), and a clearance rate of 71% (no change).
Sydney East property owners hold on to their homes longer

The average homeowner in Sydney’s Eastern Suburbs is holding onto their home for 9.9 years, which represents a 3.9-year increase on the time they stayed in their house twenty years ago. The ongoing decline in the number of sales is the best evidence for this trend.
A stop-and-go property market

The Eastern Suburbs had an auction clearance rate of 75% on Saturday, April 1 2023 with a 6-bedroom house at 54 Gilbert St Dover Heights selling for $11,800,000.
First-time homebuyers are not benefiting from lower market prices

Even though house prices are still falling across the nation, many Australians want to become first-time homebuyers and aren’t able to enter the market.
Factors affecting property prices besides interest rates

Much has been written about the impact of rising interest rates on our city’s real estate market, but they’re not the only factor driving property values.
Buying a property with a partner

In recent years, buying a home with a partner has become quite common. As exciting as it may be, partners must understand the legal implications of dual ownership.