First home buyer figures peak

We’re currently in the fourth week of Sydney’s lockdown, with little change to buyer activity. We exchanged three properties this week - 219/14 Baywater Drive, Wentworth Point, 1902/46 Savona Drive, Wentworth Point and 3301/57 Queen Street, Auburn.

Queen Street, Auburn spent just four days on the market, while the exchange of 219/14 Baywater took place off market.

The last 12 months in real estate has provided many prospective purchasers with the level of predictability and consistency needed to feel better prepared and well positioned to navigate the market. Comparing our current situation to last year’s unprecedented events, the post-lockdown resurgence and subsequent rise over 2021 has provided solid reassurance to many.

This confidence is evident in the amount of activity and transactions occurring. Our office has exchanged 13 properties over July, and Wentworth Point sales overall have remained consistent with 26 sales this month.

Conveyancing data insights released by Infotrack shows that sales in the suburb continue to be led by first home buyers (FHB), rising from 126 FHB in July 2020, to a peak of 217 in May 2021 - and figures thereafter remaining above 200. It also documents significantly higher FHB activity in Wentworth Point when compared to its closest surrounding suburbs.