Video: Summer 2020 Sydney Real Estate Market Update

In the first month of 2020, we’ve already sold majority of our listings which is quite unusual. We’re seeing such a strong recovery in the real estate space.

Watch our 1 min video to get a quick update:

What’s my property worth?

If you’d like to obtain an updated appraisal for your property contact Joseph Fairchild at 0425 945 888 or email joe@metrorealty.com.au

What’s driving the market and causing this positivity?

According to our buyers, a number of factors are bringing optimism to the market including lenders relaxing their requirements and the ever-decreasing interest rate, both of which make it a little easier to borrow. We’re also seeing investors and owner-occupiers wanting to move up the property ladder by buying another investment property or upgrading their current residence in order to take advantage of the affordable market.

As we’ve written previously, buyer numbers at open inspections have been improving steadily since April/May last year. Now, at the beginning of the year, many buyers are eager to see more options and stock on the market. This makes it the ideal time to list your property if you’ve been considering it.

Median prices:

  • Sydney $1,010,000
  • Haymarket $958,000
  • Chippendale $725,000
  • Pyrmont $1,080,000
  • Surry Hills $785,000 (apartment) and $1,650,000 (terrace)
  • Redfern $970,000 (apartment) and $1,400,000 (terrace)

Price data last updated 19/12/2019

Key Sales: 

278/303 Castlereagh St Haymarket – 2 bedroom regular apartment in “Regis Towers” building sold for $983,000

554/317 Castlereagh St Haymarket – 2 bedroom duplex serviced apartment in “Regis Towers” building

210/178 Thomas St Haymarket – 2 bedroom apartment in “Quay” building sold for $1,152,000 at auction

549/317 Castlereagh St Haymarket – 2 bedroom duplex serviced apartment in “Regis Towers” building

327/303 Castlereagh St Sydney – 3 bedroom apartment in “Regis Towers” building sold prior to auction for $1,160,000

3203A/148 Elizabeth St Sydney – 4 bedroom penthouse apartment in “Hyde Park Tower” building sold for $2,250,000

4005/343 Pitt St Sydney – 2 bedroom apartment in “Century Tower” sold prior to auction for $1,300,000

23/267 Castlereagh St Sydney – 2 bedroom apartment in Museum Tower sold for $810,000

5005/393 Pitt St Sydney – 2 bedroom apartment in Hordern Tower sold prior to auction for $1,610,000. This is the highest record price for 2 bedroom apartment in Hordern Tower.

4701/393 Pitt St Sydney – 1.5 bedroom apartment in Hordern Tower sold prior to auction for $811,000

More on stats: https://www.metrorealty.com.au/market-updates/whats-on-sydney-real-estate-horizon-in-2020/

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Sydney Rental Market Update | Summer 2020

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