Ewan’s Hot Take: On the Sydney Market

The real estate market in Sydney experienced a significant drop in the number of buyers towards the end of August and beginning of September. This was a concern for agents who thought the interest rate increase was finally hitting the market. However, the shortage of stock in the market throughout the year meant that buyers had not had much to choose from, and prices had been good. Now, stock is up, and more listings have been seen. The next few weeks will determine if these listings will be sold. As September comes to an end, the market is looking okay, and the team seems optimistic about the upcoming busy season in October and November. The Sydney CBD has been the most affected, but the team there is still positive. The advice for buyers is to stay the steady course, listen to their agent, watch for prices and not to be greedy. It is not a greedy market, but it can be navigated. The market may be in flux, but the coming weeks will paint a clearer picture of what the future holds.