2127 Market Report | 2021 in review

If you were asked to describe the year 2021 – it’s likely that words such as turbulent, challenging, and unimaginable would immediately spring to mind. Despite this, unprecedented growth saw 2021 rewrite the property record books, delivering on extraordinary results and the most rapid price rise in over three decades.  

With a total of 166 properties sold in 2021, we exchanged over $120m worth of property – supporting a record number of people to become very happy home buyers. A perfect combination of low interest rates, unbalanced supply and demand ratios, increased household savings, government support measures, and desirability for lifestyle change created the ideal market conditions for strong market activity. Notably, this included 53 off-market sales, and represented an increase of 76 sales, relative to our performance in 2020.

Owner occupiers continued to represent most buyers this year (87%), expressing strong confidence and urgency to capitalise on premium property purchases, even during lockdown periods – elevating a median price growth of 8.3%. With house prices soaring, the popularity of apartment purchases grew significantly, reflecting buyers’ aspirations to invest in property. Surrounding suburbs also saw exceptional growth, with a median price rise of 10.4% in Newington and 9.6% in Sydney Olympic Park.

While it is difficult to predict what the market has in store for 2022, we are confident that our performance has set a strong foundation for continued growth. As we continue to monitor market activity and gain a deeper understanding of performance, you can be certain that we will keep you informed about what to expect. In the meantime, you can read more about our results and trends in our Annual 2127 Market Report here.

Whatever your property goals may be in 2022, we can’t wait to help you achieve the best result - reach out to our team for a confidential chat today.

Alexander Chidiac
When it comes to dealing with buyers and sellers in Wentworth Point, Rhodes, Newington and throughout this part of the inner west, Alex enjoys an exceptional reputation earned from over 10 years’ experience in the industry.

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