Welcome to this month’s Market Insights Report, prepared to provide you with a detailed analysis of select suburbs over the last 60 days. At Rose & Jones, we are committed to offering you crucial insights to aid you in making informed decisions about property investments.
This report has been thoroughly compiled with data sourced from CoreLogic, ensuring the highest standards of accuracy and reliability.
Key Insights for Buyers:
High-demand areas like Leichhardt and Neutral Bay show significant activity with numerous new sale listings and advised sales, indicating dynamic markets. Suburbs such as Lilyfield and Kirribilli exhibit quick turnover, suggesting that properties are selling rapidly. Stability in markets like Clovelly and Dulwich Hill is evident, with properties often selling at asking prices. Meanwhile, Leichhardt and Neutral Bay offer strong investment potential, characterised by above-asking price sales and vibrant market activity.
Why It’s a Good Time to Buy in NSW:
The current real estate climate in New South Wales offers a prime opportunity for property investment. With interest rates stable and expected to decrease further towards the year’s end, buyers can benefit from favourable borrowing conditions. Moreover, the resilience of the market and the high demand for properties in these regions make it an opportune time to consider property acquisitions.
Suburb Overview:
Clovelly, 2031
The market has shown a steady pace with 19 new sale listings over the past 60 days. Properties in this area spend an average of 11.2 days on the market, with no vendor discount, indicating that properties are selling at their asking prices. The suburb has seen 4 recently advised sales and 22 instances of recently withdrawn advice, highlighting a consistent market. With 76 total rental listings, Clovelly remains a sought-after area for both buyers and renters.
Kirribilli, 2061
Exhibits a rapid turnover with 8 new sale listings. Properties here spend an average of 5.74 days on the market, with an average vendor discount of 4.31%, suggesting that buyers are negotiating substantial discounts. With 7 recently advised sales and 22 recently withdrawn advice, the market remains competitive. The rental sector is robust, with 95 listings available, making Kirribilli an appealing location for potential investors.
Neutral Bay, 2089
Presents a vibrant market with 58 new sale listings. Properties average 9.62 days on the market, and the average vendor discount is 1.35%, reflecting stable pricing. The suburb has seen 42 recently advised sales and 69 instances of recently withdrawn advice, showcasing strong market activity. With 220 rental listings, Neutral Bay continues to attract both buyers and renters.
Leichhardt, 2040
Offers a dynamic market with 107 new sale listings. Properties here spend an average of 22.42 days on the market, and the average vendor discount is 1.81%, reflecting above-asking price sales. The suburb has seen 61 recently advised sales and 55 instances of recently withdrawn advice, indicating a bustling market. With 195 rental listings, Leichhardt remains a stable area for investment.
Lilyfield, 2040
Shows quick turnover with 29 new sale listings. Properties here spend an average of 16.28 days on the market, and the average vendor discount is 5.84%, suggesting substantial negotiations. The suburb has seen 29 recently advised sales and 12 instances of recently withdrawn advice, maintaining a balanced market. With 64 rental listings, Lilyfield continues to attract both buyers and renters.
Dulwich Hill, 2033
Rounds out our report with a moderate level of market activity. There have been 83 new sale listings, and properties spend an average of 16.84 days on the market. The average vendor discount stands at 1.16%, reflecting modest negotiations. The suburb has seen 51 recently advised sales and 27 recently withdrawn advice, indicating a balanced market environment. With 166 rental listings, Dulwich Hill presents a moderate but steady market for investors.
For further exploration of these opportunities or personalised assistance, please do not hesitate to contact us. Your property aspirations are our priority.