Ewan’s Hot Take: Where is the sales market is going

The Sydney property market has had mixed results in the spring market, with strong sales and prices in some areas but lower engagement in others. At the lower end of the market, competition for properties is strong, and interest rates are not making much difference. However, at the upper end, there is hesitancy among buyers, with people being very careful about what they are offering. This may be due to uncertainty about the bigger picture, with some uncertainty still remaining about what will happen next. As a result, buyers at the upper end are more conservative, with some segments of the market experiencing a slight downturn. Vendors are advised to stay focused on what they are trying to achieve and to pitch their property at a price that engages the market, rather than going out too high and hoping for someone to see the value. The message for vendors is to navigate with caution, and to be conscious of the need to get pricing right in order to engage buyers and build competition.