Sydney’s property market has started the year with strong buyer activity, defying concerns about a sluggish market ahead.
Sydney’s property market has started the year with strong buyer activity, defying concerns about a sluggish market ahead.
Auction clearance rates jumped to 67.5%, up from 59.5% the previous week, according to CoreLogic. However, this remains below the 70.6% clearance rate recorded a year ago, reflecting broader affordability challenges.
With the RBA’s first rate cut expected soon, many are questioning how much impact it will have. As Patrick Lang of Belle Property notes, “On a $1 million loan, a 0.25 percentage point cut only means $80 a week less… That’s not going to change the world.”
Buyer sentiment remains mixed, with some rushing to secure a property before prices rise, while others remain cautious about overpaying.
Melbourne and Brisbane saw clearance rates dip year-on-year, while Canberra was the only capital city to record an increase.
The coming months will reveal whether buyer demand holds steady as more listings enter the market. For more market insights and property updates, subscribe to our newsletter.
