Sydney Market Insights October Report

With Sydney’s property market continually evolving, staying informed is key to making smart decisions. In our October 2024 Sydney Market Insights Report, we dive deep into the latest trends, uncover the driving forces behind current price shifts, and explore emerging opportunities in one of Australia’s most dynamic property landscapes.

Whether you’re a first-time buyer or a seasoned investor, this report will give you the edge you need in today’s competitive market.

In this report, we offer an in-depth analysis of the property market in several prestigious suburbs of Sydney. The insights presented here will assist you in understanding recent market trends, guiding your real estate decisions in the luxury property sector.

Vaucluse NSW 2030

  • New Sale Listings: 51
  • Average Days on Market: 35.73
  • Average Vendor Discount: 5.00%
  • Recently Advised Sales: 19
  • Recently Withdrawn Listings: 35
  • Total Rental Listings: 87

Key Insights:

Vaucluse remains a competitive market with 51 new listings and 19 advised sales in the last 60 days. Properties are typically on the market for around 36 days, indicating a moderate pace of sales. The average vendor discount of 5.00% suggests that sellers are willing to negotiate, which could provide opportunities for buyers. With 87 rental listings, investors may find ample opportunities in the rental market as well.

Rose Bay NSW 2029

  • New Sale Listings: 92
  • Average Days on Market: 35.78
  • Average Vendor Discount: -17.09%
  • Recently Advised Sales: 44
  • Recently Withdrawn Listings: 52
  • Total Rental Listings: 150

Key Insights:

Rose Bay has been highly active, with 92 new sale listings and 44 advised sales, making it one of the busiest markets in this report. Properties stay on the market for about 36 days, similar to Vaucluse. The significant vendor discount of -17.09% highlights a highly negotiable market, suggesting that buyers have considerable leverage. Rose Bay also offers abundant rental opportunities, with 150 properties currently available.

Bellevue Hill NSW 2023

  • New Sale Listings: 79
  • Average Days on Market: 26.49
  • Average Vendor Discount: 0.00%
  • Recently Advised Sales: 46
  • Recently Withdrawn Listings: 52
  • Total Rental Listings: 139

Key Insights:

Bellevue Hill is experiencing brisk market activity, with properties moving in just under 27 days on average—the fastest in this report. The absence of any vendor discount (0.00%) reflects the strong demand for properties in this area, with sellers holding firm on their asking prices. For investors and renters, there are 139 available rental properties, presenting good opportunities.

Darling Point NSW 2027

  • New Sale Listings: 26
  • Average Days on Market: 19.09
  • Average Vendor Discount: -0.44%
  • Recently Advised Sales: 8
  • Recently Withdrawn Listings: 39
  • Total Rental Listings: 83

Key Insights:

Darling Point is the fastest-moving market in this report, with properties selling in just 19 days on average. With only a slight vendor discount of -0.44%, it’s clear that demand is high and prices remain firm. With just 26 new listings and 8 advised sales, supply is limited, which may push prices up further. The suburb also has 83 rental listings, offering moderate opportunities for investors.

Elizabeth Bay NSW 2011

  • New Sale Listings: 45
  • Average Days on Market: 6.45
  • Average Vendor Discount: -0.19%
  • Recently Advised Sales: 26
  • Recently Withdrawn Listings: 53
  • Total Rental Listings: 170

Key Insights:

Elizabeth Bay shows an extremely fast-paced market, with properties moving off the market in just over 6 days on average, the quickest turnover in this report. The minimal vendor discount of -0.19% also reflects the high demand for properties in this area. With 45 new listings and 26 sales in the past 60 days, the market is active. Moreover, with 170 rental listings, investors can expect robust opportunities in the rental space.

Woollahra NSW 2025

  • New Sale Listings: 49
  • Average Days on Market: 39.72
  • Average Vendor Discount: 9.66%
  • Recently Advised Sales: 16
  • Recently Withdrawn Listings: 50
  • Total Rental Listings: 123

Key Insights:

Woollahra presents a slightly slower market, with properties taking nearly 40 days to sell. The substantial vendor discount of 9.66% indicates room for negotiation, offering an opportunity for buyers. Despite only 16 advised sales, Woollahra has seen 49 new listings and 50 withdrawn listings in the last 60 days. For rental investors, there are 123 available listings, suggesting a healthy rental market.

Summary of October Insights

This report highlights a mix of fast-paced and more negotiable markets. Darling Point and Elizabeth Bay are seeing rapid sales with minimal price reductions, indicating high demand. Meanwhile, suburbs like Rose Bay and Woollahra present favourable conditions for buyers looking for negotiable deals. Overall, these areas provide a blend of opportunities for both homebuyers and investors alike.

For more detailed advice tailored to your specific needs, feel free to reach out to Byron Rose at Rose & Jones.

Data sourced from CoreLogic, compiled from recent real estate listings and market trends for your guidance.

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