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The
Propertybuyer

Podcast

Hear the latest weekly insights into the property market via podcast by Rich Harvey, CEO and founder of Propertybuyer.

 
Wed 22 Nov '23 with Rich Harvey Using Data & AI for Better Property Decisions
 
 
Thu 7 Sep '23 with Rich Harvey Northern Beaches Real Estate Outlook & Industry Trends
 
 
Thu 20 Jul '23 with Rich Harvey How Sales Agents Think
 
 
Thu 15 Jun '23 with Rich Harvey Auctions – The Inside Scoop
 
 
Fri 9 Jun '23 with Rich Harvey Financing Innovation & Building a Property Portfolio
 
 
Thu 25 May '23 with Amanda Jones Melbourne Property Insights
 

 

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Property advice, market updates & more

 

How to buy and sell in a hot Sydney market

August 30, 2017 / Written by Rich Harvey

 

By Rich Harvey, CEO, propertybuyer.com.au

Winter is usually the calm before the spring selling storm, but these last few months have been a cracker. CoreLogic says new homes listed in Sydney are up 17 per cent on the year before.

Vendors are getting active, and house hunters will be circling like sharks - but a common concern I see is about selling in this environment and then having to buy again immediately. It follows what John McGrath wrote for Switzer recently, where selling at a peak means buying at a peak - so where's the profit?

While every buyer needs to be cautious, I think there are a few points missing here.

1. When you sell in Sydney, you're going to get top dollar

Listings might be up, but demand is too. Migration into NSW continues to push record highs, while central and prestige properties are consistently breaking through to unprecedented levels. You can see this in CoreLogic's recent report on million dollar sales, which make up 47.8 per cent of all Sydney transactions.

Selling in this Sydney market means getting top dollar.
Selling in this Sydney market means getting top dollar.

High prices mean high profits. CoreLogic's Pain & Gain report shows that in suburbs like Mosman, the median profit on a sale in 2017 is an incredible $720,000. It nearly doesn't matter where you sell in Sydney - there's going to be top dollar in it, which gives you a lot of power when you make a purchase.

2. You can find the easy way into the market

Of course, once you sell for a high price, you may assume you're in the same boat as someone who just bought your home - having to pay a premium to secure a property in your ideal location. 

If the opportunity is there, take it.

However, there are a few ways to avoid this. Using a buyers' agent gives you access to a proven negotiator - Propertybuyer's strong track record means we have close relationships with selling agents and can secure you off-market property before a public listing incites further demand.

We're also coming up to spring, when listing volumes are likely to go even higher. The first six weeks of spring typically see a massive spike in listings, giving house hunters a great opportunity to secure a good price.

Analysis paralysis often gets the better of us, but if the opportunity is there, take it. Selling and buying in the same market isn't necessarily a bad thing - especially when you can get a buyers' agent on your side.

The Propertybuyer
Podcast

 
Wed 22 Nov '23
with Rich Harvey
Using Data & AI for Better Property Decisions
 
 
Thu 7 Sep '23
with Rich Harvey
Northern Beaches Real Estate Outlook & Industry Trends
 
 
Thu 20 Jul '23
with Rich Harvey
How Sales Agents Think
 
 
Thu 15 Jun '23
with Rich Harvey
Auctions – The Inside Scoop
 
 
Fri 9 Jun '23
with Rich Harvey
Financing Innovation & Building a Property Portfolio
 
 
Thu 25 May '23
with Amanda Jones
Melbourne Property Insights
 

 

Listen to many more
podcasts on our
Podcasts page.