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I recently recommended our team watch the Netflix series ‘Drive to Survive’. I started watching it for pure entertainment but was surprised that as well as high-drama I actually saw significant parallels between the high-speed, high-stakes world of Formula One racing and Sydney residential property…and thankfully many differences too! While residential property is obviously not a life or death profession it is a high pressure, high-stakes environment. We are often supporting our clients as they make decisions around their biggest financial investment, their life savings, their home. To deliver the right outcomes for our clients and achieve success in our profession requires a high... Read More»

It’s really quite hard to fathom the precipice we were standing on this time last year. When we went into lockdown in March the uncertainties in terms of the economy, our health and the future felt extensive and extreme. And so it feels equally extraordinary that just one year on we find ourselves in a place where Sydney achieved an increase in property values of 3.7% in March. What do we take from that kind of turnaround…. There are a couple of ways you can look at the rapid return of value in the Sydney property market and in my opinion both are equally... Read More»

You might have noticed if you’re a regular reader of this blog that I am often reluctant to jump on the bandwagon of a booming market. Yes, it’s exciting and good for business, but as a market moves, I generally like to remain cautious. There is rationale for my reticence but even I have to admit the market is pretty hot right now and as a result, this is what I’m thinking… With respect to our media, I do think property headlines can be a little overcooked. I get it. But at times it can be frustrating when commentators rush to spruik... Read More»

I am absolutely passionate about growth.  Growth for our clients and growth of our business is pretty much the key driver of everything I do. Every day, and remember, I’ve been working in this industry for over 30 years now.  I think that qualifies me as a survivor. It’s easy to sit back and revel in the opportunities that come with the current market strength but to be a survivor in residential real estate Morton has always been determined to outwit, outplay and outlast.  That said, I should highlight here that contrary to the approach often taken on the tv reality... Read More»

Let me get straight to the point. Whilst there is a clear and valid focus on the extraordinary demand evident across the residential housing market, I think it important to highlight we are seeing a different level of demand for apartments. There is a two-speed market in place across Sydney right now and that does have consequences. It’s like right now everybody wants a house. Not just a home….they want a house. Perhaps it’s a response to the reality of living through COVID lockdown in an enclosed space, or maybe it’s a response to limitations on holidays and overseas travel but the difference... Read More»

The release of the latest statistics certainly confirms the anecdotal evidence that we have entered very interesting territory in terms of the market. It raises heart rates and expectations but also some complications. The February Cooley Index reported an auction clearance rate of 84% with a staggering 85% of results secured above the reserve price. That is extraordinary and it’s equal parts terrifying for potential buyers and exciting for potential vendors. To be brutally honest it is also quite terrifying and exciting for real estate sales agents! Our team monitor market activity very closely. We watch the macro numbers coming out which reflect generic activity and... Read More»

If there is one thing I know it’s that 99% of property purchases are the result of lengthy planning and very considered analysis. Very few people happen upon an auction and purchase on the spur of the moment!! I absolutely recommend a careful and considered approach, however, there are times when a subtle shift in the focus of that analysis might be of some benefit. The thing is, regardless of the strength or weakness of the market a key criteria in many…perhaps most…property searches is to ‘find a bargain’. I totally get that. Buying at a price with immediate opportunity for value growth... Read More»

Last week I had the opportunity to reflect on the rental market response to COVID in a chat with Dominic Nesci.  We covered a variety of topics, but it was interesting to dig down into what happened across the rental market last year, where it is now and what we can take from it all. So, what happened and what can we learn? Let’s be frank……around this time last year the rental market imploded.  In the middle of last year, the vacancy rate in the CBD was sitting at an astonishing 14%.  That was a cataclysmic collapse that I worried would take... Read More»

There are some numbers I think are important for people to know when digesting the big headlines about big prices we are seeing with regularity right now. They’re numbers that are growing, but not in the way you might expect. So, here’s the deal. I’m sure nobody would disagree with the idea that in Sydney we are a little bit obsessed with the property market. Auction clearance rates and property values are the subject of endless debate around dinner tables and on the sidelines of Saturday sport. But here’s the interesting thing: Talk doesn’t automatically translate into action. I saw some numbers recently that revealed the average... Read More»

I’m usually loathe to jump on the bandwagon of reports about booming markets and unprecedented demand, but right now it’s hard to ignore, so here’s my take on it. Firstly, let me say that I do appreciate the confidence that comes from positive press.  The impact of positivity on property prices is as powerful as this sentence is problematic to read out loud!  The fear of missing out is very real and across all our offices we are already seeing increased activity across the market in 2021. However, I always challenge our team to consider if the burst of activity is sustainable. ... Read More»