During a fast-paced year of change, the SydneyLinks real estate team has seen growth in leased property and finally seen the sales market turn the corner.
Sydney sales property prices have begun to steadily rise over the past 10 months, up 11.6% overall since January of this year. Previously we saw a boom from 2020 to 2021 with prices rising by 27.2%. This was followed by a short fall, with housing prices falling 12.4%.
From September to October, SydneyLinks sold four properties in total. About 75% of properties advertised during this period were sold. From the sales, about half were marketed by auction and the other half were by private treaty. Our team is pleased to see sales improving overall, with people willing to spend more on bigger properties as demand grows.
Looking to the rental market, the SydneyLinks team has seem an increase of 5%. Investors are starting to return to the market, with our team receiving double the number of enquiries from this type of buyer.
Corporate clients have also begun to show renewed interest in rental properties as overseas business sets its eyes on Sydney, in combination with advantages from our current exchange rate. SydneyLinks has welcomed leases with corporate clients Netflix and Commbank for their staff.
When it comes to property type, smaller properties like 1 bedrooms and studios are leased within a week. These properties continue to be in high demand from tenants all across Sydney.
If you’re considering selling, buying, or leasing property in Sydney, the team at SydneyLinks is here to assist you. Our expert agents have an in-depth understanding of the local market and can provide you with comprehensive guidance and support throughout the process. With our extensive network and commitment to delivering exceptional service, we are confident in our ability to help you achieve your real estate goals.