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The
Propertybuyer

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

 
Fri 14 Jun '24 with Rich Harvey Tax Effective Property Investment Strategies
 
 
Fri 24 May '24 with Rich Harvey Granny Flats: Boost Your Yields & Faster Mortgage Repayments
 
 
Fri 3 May '24 with Rich Harvey Unpacking the Northern Beaches with Incredible Agents
 
 
Fri 29 Mar '24 with Rich Harvey How to build a $7 Million Property Portfolio from scratch
 
 
Sat 16 Mar '24 with Rich Harvey Why Invest in Melbourne?
 
 
Mon 26 Feb '24 with Rich Harvey Sydney’s Inner West – Hotspots and Outlook for 2024
 

 

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Propertybuyer Blog
Property advice, market updates & more

 

Latest Sydney statistics represent great news for investors, home buyers

March 27, 2014 / Written by Rich Harvey

 

By Rich Harvey, CEO, propertybuyer.com.au

New data coming out of Sydney should give investors and home buyers alike plenty of reason to smile.

The recently released RP Data Property Market Indicator Summary for the week ending March 23 showed Sydney in either first or second place for a number of important real estate market indicators, with Melbourne the only other city to give the New South Wales capital competition.

When it came to home value changes, Sydney was the clear winner, boasting a 14.9 per cent annual increase. To put that in perspective, nearly every other capital city posted an increase in the 5 per cent range or less.

Those looking to buy investment property in Sydney should also be pleased with data regarding median prices and time spent on market.

Sydney led the nation in both number of sales and highest median price for houses and units. There were 2,294 private treaty house sales and 1,354 private treaty unit sales during this time period. The former saw a median price of $729,750 while the latter featured a median price of $580,000.

Meanwhile, property took a shorter time to sell in Sydney than any other capital city during this time period. The average time on market for houses in Sydney was 27 days, much lower than the 84 days seen in Hobart.

Units took an average of 24 days to sell in Sydney, a vast difference from 114 days in Darwin.

However, this shouldn't discourage traditional home buyers, as figures also show that Sydney is leading the country in new properties listed for sale.

There were 9,631 brand new listings seen on the market during the 28-day period ending on March 23. This brought the number of total listings up to 23,204.

Home buyers exploring the auction route should also be glad to hear that there were 963 auctions in Sydney during the week-long period ending on March 23. The NSW capital was only narrowly beat out by Melbourne for total number of auctions.

Whether you're seeking a cash flow positive property to invest in or a home for your family, now is the time to seek out a qualified buyers agent and enter the market.

The Propertybuyer
Podcast

 
Fri 14 Jun '24
with Rich Harvey
Tax Effective Property Investment Strategies
 
 
Fri 24 May '24
with Rich Harvey
Granny Flats: Boost Your Yields & Faster Mortgage Repayments
 
 
Fri 3 May '24
with Rich Harvey
Unpacking the Northern Beaches with Incredible Agents
 
 
Fri 29 Mar '24
with Rich Harvey
How to build a $7 Million Property Portfolio from scratch
 
 
Sat 16 Mar '24
with Rich Harvey
Why Invest in Melbourne?
 
 
Mon 26 Feb '24
with Rich Harvey
Sydney’s Inner West – Hotspots and Outlook for 2024
 

 

Listen to many more
podcasts on our
Podcasts page.