The close of August signifies Sydney’s movement into its tenth week of lockdown, and while things might feel different on the home and work front for many, the market has continued on with great power.
We sold 11 properties this month, four of which were off market, including this week’s exchange of 409/15 Baywater Drive, Wentworth Point (two bed in Alora) off market as active buyers continue to strongly outweigh the number of properties available for sale. With many still looking to purchase, firm competition vying for the significantly reduced stock available has yet again lifted Wentworth Point’s median price for the 8th consecutive month in a row, rising to $727,100.
We explore the current supply situation and how this is likely to dramatically shift post-lockdown in our exclusive August report. Click this link to download it.
The warmth of buyer activity in Wentworth Point is supported by the amount of private inspections we’ve conducted over the past four weeks as we took 152 qualified buyers through properties.
We strongly anticipate the buyer confidence we’re currently seeing will only bolster further over September as restrictions ease between now and the end of the year.
Nationally, August recorded an increase of 1.5% in dwelling values, raising Australian housing values 15.8% since the beginning of the year and showing continued progress towards the promising trajectory we’ve seen forecasted for the coming months.
Want to know what other insights we’re predicting for the spring season ahead in the market? Download our exclusive Market report for August.
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