Navigating The Sydney Property Market With an Expert Sydney Buyers Agent
Leading Australia’s property market as the most expensive city, Sydney has experienced substantial growth in recent years, with prices rising higher and higher without slowing down. However, in 2024, the previously unstoppable increases have encountered a headwind, with gains decreasing, and some suburbs experiencing a decrease in the value of certain property types. Understanding the latest property trends influencing Sydney’s property market can inform buyers, and when armed with the help of an expert Sydney property buyers agent, buyers can make the best decision possible and receive the best possible value with their property purchase.
We’ll be exploring property trends in 2024 so far, looking at the latest Sydney property report to understand the state of the market, trends to look out for in coming months, and how this information can help you to successfully make a purchase, even in turbulent conditions.
Sydney Property Trends For 2024
2024 has been an exciting year for Sydney’s property market, with buyers gaining back negotiating power after an extended period where vendors could expect guide prices to be broken, and set high prices because of insatiable demand. Demand remains high, but with many more properties now available, the supply of housing stock is adequate to quell the frenzy that Sydney was experiencing. Many suburbs across Sydney are stagnating – with some median suburb values falling over the last 12 months – but blue chip suburbs in regions such as the Eastern Suburbs are always highly desirable and will serve as high-quality assets even if growth experiences a short-term blip.
Trends To Watch
With the end of the year already here, we look ahead to 2025 to forecast how the Sydney property market will evolve over the next 12 months. Here are some trends that you should observe if you are looking to purchase a home or investment property:
Interest Rate Changes
Changes to the cash rate have a significant impact on the property market, as it directly influences home loan serviceability and borrowing capacity. The RBA hasn’t changed the cash rate since November 2023, however, it is forecasted to drop to 3.6% by the back end of 2025. This could reignite growth and support predictions that the median house prices in Sydney will exceed $1.7 million by the end of FY2025.
Income Stagnation
House price growth has been outpacing income increases for decades, with house prices being more than three times more expensive relative to income in 2024 compared to 1987. This trend is set to continue, which will only make it harder for first-time buyers to get on the ladder.
Supply Changes
NSW has set the lofty target of delivering 377,000 well-located homes by 2029, and although reaching this target remains in question, the supply of a large volume of properties could create a shift in the landscape of the Sydney property market.
Using Sydney Property Market Information to Guide Your Purchase
Understanding the latest insights into the Sydney property market provides buyers with valuable information that can help shape your property-buying journey, and also aid in negotiations. Research surrounding price fluctuations, areas that have experienced growth, and the overall sentiment of the market, as well as current market conditions such as interest rates, economic indicators, and government policies. Whilst readily available information is abundant online, being able to apply these findings to a property search can require more effort, which is where buyers agents come in. The best buyers agents in Sydney are market experts, with knowledge on both a macro and micro scale, and can synergise readily available market data with observations drawn from the real world. An example of this is when a vendor lists a property that is above fair market value, and a buyers agent, with in-depth knowledge, is not only able to counter but to provide valid reasons for the offers they extend.
Sydney Property Market Insights
Discover the latest Sydney property market insights to fuel your search.
December Sydney Property Insights
This December’s property insights highlight the Sydney suburbs with favourable conditions for buyers who looking for negotiable deals including Vaucluse and Rose Bay, areas with strong and steady demand, and the state of the rental market.
Read the full December Sydney property insights report here.
November Sydney Property Insights
The current market environment in New South Wales presents a mixture of tight supply, negotiable pricing, and rental opportunities. Paddington and Cremorne show particularly active markets, while areas like Double Bay offer more room for price negotiation.
Read the full November Sydney property insights report here.
October Sydney Property Insights
This October has seen 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.
September Sydney Property Insights
The current market environment in New South Wales presents a mixture of tight supply, negotiable pricing, and rental opportunities. Paddington and Cremorne show particularly active markets, while areas like Double Bay offer more room for price negotiation.
Read the full September Sydney property insights report here.
Navigating the market on your own can be tricky, but unlike a real estate agent, a buyers agent has your sole interests at heart, ensuring that everything is done to ensure that you get the outcome you desire. The best buyers agents in Sydney are able to act as trusted advisors on behalf of buyers, steering them through the entire property-buying process and maximising their chances of success.
To learn about the latest property insights from Rose & Jones or how our Sydney property buyers agents can help you navigate the market, get in touch with the team at Rose & Jones.
About Rose & Jones Buyers Agents
Since 1998, Rose & Jones has been assisting clients in finding and purchasing properties across Sydney, South East Queensland, and the Northern Rivers region of New South Wales. Renowned in the residential, commercial, and industrial property sectors, our property experts adhere to the highest standards, ensuring you never have to compromise yours. With access to an extensive network of off-market properties, our team can help you find the perfect property. We also offer property management services and investment advice, making Rose & Jones your premier choice for property in New South Wales and Queensland.
