Sydney’s property market shows no sign of slowing

Homes in Sydney’s inner-city suburbs are being snapped up in no time as the demand for prime property shows no signs of stopping.

Following a recent flurry of hefty sales, it seems buyers are moving quicker than ever to secure their dream homes which is, in turn, driving property prices up and up.

Bresic Whitney agent Maclay Longhurst spoke to OzHomeNews about Sydney’s booming property market and what could be in store in the months to come.

“The market is unbelievable at the moment,” he says.

 “There’s low stock levels and demand is massively outweighing supply which is keeping competition alive,” Maclay explains.

On the back of selling two inner-city properties off-market for over $9 million combined, Maclay expects more of the same as more and more buyers take the property plunge.

“The way things are going the market will continue to stay strong whilst stock levels are low,” he says.

One of Maclay’s recent deals was the sale of a four-bedroom home at 53 Regent Street that sold for $5 million.

“It is a fully developed Victorian terrace house with parking,” he says.

“We showed through a list of our qualified buyers and had three parties interested.

“It sold in under two weeks off market.”

Nearby 15 Moore Park Road was also secured in a $4.32 million deal with the buyers and sellers of both transactions moving locally.

“We also had three interested parties on 15 Moore Park Road and it sold in less than 10 days off market,” Maclay says.

“It is undeveloped but with a DA attached to it, it’ll definitely be redeveloped by the new owner.

“The buyers for both properties lived locally, within a 300-metre radius and both vendors are downsizing locally,” Maclay explains.

Address

53 Regent Street, Paddington, NSW 2021

15 Moore Park Road, Centennial Park, NSW 2021

Agents

Maclay Longhurst – 0420 206 659
Emily Davidson – 0437 492 378
Bresic Whitney Estate Agents

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